Gold Movement
Gold prices traded higher by 1.99% against the USD in the 24 hour period ending 23:00GMT, at 1201.80 per ounce, as uncertainty continued over Greece’s financial reforms.
Separately, gold holdings of SPDR Gold Trust remained unchanged at 742.35 tons from its previous close of 739.06 tons.
In the Asian session, at GMT0300, the pair is trading at 1200.80, with the gold trading 0.08% lower from yesterday’s close.
The pair is expected to find support at 1184.23, and a fall through could take it to the next support level of 1167.66. The pair is expected to find its first resistance at 1212.03, and a rise through could take it to the next resistance level of 1223.26.
The yellow metal is trading above its 20 Hr and 50 Hr moving averages.
