Gold Movement
Gold prices traded lower by 0.57% against the USD in the 24 hour period ending 23:00GMT on Friday, at 1721.18 per ounce.
In the Asian session, at GMT0400, Gold is trading at 1727.9, 0.39% higher from Friday’s close, as the dollar weakened, after the Greek lawmakers approved an austerity bill to secure a second bailout. Physical buying from China also helped lift gold.
Gold is expected to find support at 1710.63, and a fall through could take it to the next support level of 1693.36. Gold is expected to find its first resistance at 1739.39, and a rise through could take it to the next resistance level of 1750.87.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
