Gold Movement
On Friday, Gold prices traded lower by 0.06% against the USD in the period ending 21:00GMT, at 1200.40 per ounce, as uncertainty remained over Greece’s financial mess.
Separately holdings of the SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, remained unchanged at 701.90 tons.
In the Asian session, at GMT0300, the pair is trading at 1198.3, with the gold trading 0.17% lower from Friday’s close.
The pair is expected to find support at 1194.93, and a fall through could take it to the next support level of 1191.56. The pair is expected to find its first resistance at 1202.83, and a rise through could take it to the next resistance level of 1207.36.
The yellow metal is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
