Prices recovered gold On Tuesday during the Asian sessions and early European session of all losses, after weak trading on Monday due to the American holiday.

The trade war with the Corona Virus, Covid 19, is back in the spotlight, with news that China has given exemptions from purchasing some American products, including agriculture, energy, pork, cows, soybeans, and natural gas. Liquefied, crude oil.

Technical Analysis

The yellow metal managed to rise above the 1582 support, to continue to rise inside the upside channel supported by the RSI index, to open the door to target support 1590 and 1594 in the short term.

The metal is expected to continue rising to the 1600 levels by holding above the 1586 support.

On the other hand, breaking the support 1586 opens the way for retesting 1582, and in case of acceleration we may see the most important 1572-1576 levels.