January 20, 2020
Spot gold may touch resistance at $1564 per ounce. Gold able to stay above at Jan 16, 2020 high of $1557.90. This suggest extension of bounce from $1535.60 level. Above $1564 it may travel towards $1600 again.
Range of support is at $1553 - $1557, a break below may force gold to visit at $1540.
Geopolitical situation in Gulf region and US-China trade deal may take both ways turn at any time. This pressure helps safe-haven yellow metal to remain over and over from $1557 point.
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