Gold Movement
Gold prices traded lower by 0.45% against the USD in the 24 hour period ending 23:00GMT, at 1741.98 per ounce, as the euphoria over a Greek debt deal fizzled out and investors shifted their focus to US negotiations to avert a looming fiscal disaster in the world’s largest economy.
In the Asian session, at GMT0400, Gold is trading at 1740.95, marginally lower from yesterday’s close.
Gold is expected to find support at 1737.18, and a fall through could take it to the next support level of 1733.41. Gold is expected to find its first resistance at 1747.79, and a rise through could take it to the next resistance level of 1754.62.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
