Gold Movement
Gold prices traded lower by 1.30% against the USD in the 24 hour period ending 23:00GMT, at 1218.30 per ounce, amid a broad strength in the greenback, offsetting the impact of concerns over Greece’s exit from the Euro-zone.
Separately, gold holdings in the SPDR Gold Trust remained unchanged for the second-consecutive day.
In the Asian session, at GMT0400, the pair is trading at 1219.70, with the gold trading 0.11% higher from yesterday’s close.
The pair is expected to find support at 1211.23, and a fall through could take it to the next support level of 1202.76. The pair is expected to find its first resistance at 1233.43, and a rise through could take it to the next resistance level of 1247.16.
The yellow metal is trading below with its 20 Hr and 50 Hr moving averages.
