Gold Movement
Gold prices traded marginally higher against the USD in the 24 hour period ending 23:00GMT, at 1188.80 per ounce, as a lower greenback coupled with the ongoing uncertainty in Greece bolstered the demand of the safe-haven yellow metal.
In the Asian session, at GMT0300, the pair is trading at 1189.20, with the gold trading marginally higher from yesterday’s close.
The pair is expected to find support at 1182.00, and a fall through could take it to the next support level of 1174.80. The pair is expected to find its first resistance at 1194.60, and a rise through could take it to the next resistance level of 1200.00
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
