Gold Movement
Gold prices traded lower by 1.11% against the USD, on Friday, in the 24 hour period ending 23:00GMT, at 1,485.57 per ounce, as optimism over Greece’s debt situation reduced the appeal for the precious metal.
In the Asian session at 3:00GMT, gold is trading at USD 1,493.38 per ounce, 0.53% higher from 23:00GMT.
The pair is expected to find its first short term resistance at 1,504.38, with the next resistance at 1,515.37. The pair is expected to find support at 1,480.61 and subsequently at 1,467.83.
The pair is showing convergence with its 50 Hr moving average and is trading just above its 20 Hr moving average.
