Gold Movement
On Friday, Gold prices traded higher by 0.08% against the USD in the period ending 21:00GMT, at 1174.00 per ounce.
However, over the weekend, gold prices found support, after the bailout talks between Greece and its creditors collapsed again, suggesting that the nation will more likely default and will exit the Euro-zone.
Separately, the SPDR gold holdings rose to 713.23 tons, compared to its previous close of 706.37 tons.
In the Asian session, at GMT0300, the pair is trading at 1181.80, with the gold trading 0.66% higher from Friday’s close.
The pair is expected to find support at 1170.06, and a fall through could take it to the next support level of 1158.33. The pair is expected to find its first resistance at 1190.56, and a rise through could take it to the next resistance level of 1199.33.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
