Gold Movement
Gold prices traded higher by 0.31% against the USD in the 24 hour period ending 23:00GMT, at 1232.80 per ounce, after talks between Greece and its creditors broke down, thus increasing demand for the safe-haven yellow metal.
In the Asian session, at GMT0400, the pair is trading at 1227.70, with the gold trading 0.41% lower from yesterday’s close.
The pair is expected to find support at 1224.30, and a fall through could take it to the next support level of 1220.90. The pair is expected to find its first resistance at 1233.90, and a rise through could take it to the next resistance level of 1240.10.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
