Gold price trades flat in EUR terms ahead of Greek vote

Frankfurt (July 15)  Gold is trading flat in EUR terms as investors wait for the results of the Greek parliament vote on the latest deal.

Gold trades around EUR 1148-1150/Oz

Greek parliament shall have to accept the reforms in entirety. Only then the negotiations for a fresh bailout package would begin. There are reports that the Greek parliament to vote is likely to result in a major cabinet reshuffle as ministers who do not vote in favour of the deal could be forced to exit.

Consequently, the metal is trading flat around EUR 1148-1150/Oz levels. The EUR/USD pair is trading largely unchanged on the day around 1.1015. Apart from the Greek parliamentary vote, the metal could also be influenced by Fed chairwoman Yellen’s speech.

Gold (EUR) Technical Levels

The immediate resistance is located at 1053.42 (previous session’s high), above which gains could be extended to 1160.00. On the flip side, support is seen at 1045 and 1042.36.

Source:  FXstreet