Gold recovery reaches 1,675.00

Source: Dukascopy Bank SA


The support of the 100-hour simple moving average was enough to cause a surge of the price for gold. During the early hours of Friday's trading, the commodity price had almost reached the 1,675.00 level.

A move higher above might encounter resistance in the mid-September resistance zones near 1,680.00 and 1,685.00. Higher above, the 1,700.00 mark is highly

On the other hand, a potential decline could look for support in the 1,660.00 and 1,640.00 levels, which have recently acted as support and resistance.
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