Gold Movement
Gold prices traded lower by 0.43% against the USD in the 24 hour period ending 23:00GMT, at 1,780.82 per ounce, as hopes dim that stability will return soon to Italy and Greece.
In the Asian session, at GMT0400, Gold is trading at 1778.05, 0.16% lower from yesterday’s close.
Gold is expected to find support at 1769.73, and a fall through could take it to the next support level of 1761.40. Gold is expected to find its first resistance at 1790.53, and a rise through could take it to the next resistance level of 1803.00.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
