Gold Movement
Gold prices traded higher by 0.29% against the USD in the 24 hour period ending 23:00GMT, at 1176.00 per ounce, as uncertainty about Greece’s debt negotiations with its creditors continued to increase the safe-haven demand of the yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1176.2, with the gold trading a tad higher from yesterday’s close.
The pair is expected to find support at 1172.96, and a fall through could take it to the next support level of 1169.73. The pair is expected to find its first resistance at 1180.86, and a rise through could take it to the next resistance level of 1185.53.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
