Gold Movement
Gold prices traded higher by 0.90% against the USD in the 24 hour period ending 23:00GMT, at 1701.07 per ounce, as greenback weakened after Greece moved closer to wrapping up its bond swap with private creditors.
In the Asian session, at GMT0400, Gold is trading at 1706.19, 0.30% higher from yesterday’s close.
Gold is expected to find support at 1691.39, and a fall through could take it to the next support level of 1676.60. Gold is expected to find its first resistance at 1713.99, and a rise through could take it to the next resistance level of 1721.79.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
