Gold Movement
Gold prices traded lower by 0.77% against the USD in the 24 hour period ending 23:00GMT, at 1,757.40 per ounce, as a better-than-expected bond auction in Italy and positive developments in Greece improved investors’ risk sentiment, diminishing appeal for precious metals.
In the Asian session, at GMT0400, Gold is trading at 1768.07, 0.61% higher from yesterday’s close.
Gold is expected to find support at 1744.27, and a fall through could take it to the next support level of 1720.48. Gold is expected to find its first resistance at 1784.34, and a rise through could take it to the next resistance level of 1800.62.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
