Gold Movement
Gold prices traded lower by 0.24% against the USD in the 24 hour period ending 23:00GMT, at 1164.90 per ounce, amid growing speculations that Greece would strike a deal with its creditors.
However, losses in gold prices were trimmed, as greenback weakened against its peers, after the US non-farm payrolls data came below market expectations in June.
Separately, gold holdings in the SPDR Gold Trust remained unchanged at 711.44 tons.
In the Asian session, at GMT0300, the pair is trading at 1165.80, with the gold trading 0.08% higher from yesterday’s close.
The pair is expected to find support at 1158.00, and a fall through could take it to the next support level of 1150.20. The pair is expected to find its first resistance at 1171.40, and a rise through could take it to the next resistance level of 1177.00
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
