Gold Movement
Gold prices traded higher by 0.33% against the USD in the 24 hour period ending 23:00GMT, at 1193.30 per ounce, as uncertainty about Greece’s debt woes combined with a broad weakness in the greenback, lifted demand for the safe-haven yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1192.70, with the gold trading marginally lower from yesterday’s close.
The pair is expected to find support at 1186.86, and a fall through could take it to the next support level of 1181.03. The pair is expected to find its first resistance at 1197.46, and a rise through could take it to the next resistance level of 1202.23.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
