Gold Movement
Gold prices traded lower by 0.49% against the USD in the 24 hour period ending 23:00GMT, at 1764.78 per ounce, as risk aversion triggered investors into the relative safety of the greenback, while Spanish and Greek concerns remained at the center of worries.
In the Asian session, at GMT0300, Gold is trading at 1764.89, marginally higher from yesterday’s close.
Gold is expected to find support at 1757.78, and a fall through could take it to the next support level of 1750.67. Gold is expected to find its first resistance at 1769.93, and a rise through could take it to the next resistance level of 1774.96.
The yellow metal is trading between its 20 Hr and 50 Hr moving average.
