Gold Movement
Gold prices traded higher marginally against the USD in the 24 hour period ending 23:00GMT, at 1750.84 per ounce.
In the Asian session, at GMT0400, Gold is trading at 1749.90, marginally lower from yesterday’s close. Earlier, Gold rose following reports that European Union and International Monetary Fund officials have agreed on debt targets for Greece, which should free up aid and steer the country away from default.
Gold is expected to find support at 1746.56, and a fall through could take it to the next support level of 1743.22. Gold is expected to find its first resistance at 1752.80, and a rise through could take it to the next resistance level of 1755.69.
The yellow metal is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
