Gold Movement
Gold prices traded lower by 1.27% against the USD in the 24 hour period ending 23:00GMT, at 1154.10 per ounce, amid broad strength in the greenback.
Gold prices further lost ground, after the Eurogroup officials gave the Greek government another opportunity to stay in the Euro-zone, thus denting the demand of the safe-haven yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1152.20, with the gold trading 0.16% lower from yesterday’s close, ahead of the FOMC minutes scheduled later today.
The pair is expected to find support at 1143.16, and a fall through could take it to the next support level of 1134.13. The pair is expected to find its first resistance at 1164.86, and a rise through could take it to the next resistance level of 1177.53.
The yellow metal is trading below its 20 Hr and 50 Hr moving averages.
