Gold Movement
Gold prices traded higher by 0.28% against the USD in the 24 hour period ending 23:00GMT, at 1238.80 per ounce, as growing uncertainty over Greek exit from the Euro-zone raised the safe-haven demand for the precious metal.
Meanwhile, gold holdings in the SPDR Gold Trust remained unchanged at 773.31 tons.
In the Asian session, at GMT0400, the pair is trading at 1242.90, with the gold trading 0.33% higher from yesterday’s close.
The pair is expected to find support at 1237.43, and a fall through could take it to the next support level of 1231.96. The pair is expected to find its first resistance at 1246.93, and a rise through could take it to the next resistance level of 1250.96.
The yellow metal is trading between its 20 Hr and 50 Hr moving averages.
