Gold trades near 2,000.00

Source: Dukascopy Bank SA


The price for gold dipped due to the release of the US CPI. The metal traded as low as the 1,985.00 mark. However, a recovery started on Thursday. the price moved above 1,995.00 and the 2,000.00 mark, before appearing to have been stopped by the 100-hour simple moving average.

A move above the 100-hour SMA could encounter resistance in the previous support levels. Namely, the 2,010.00, 2,015.00 and 2,020.00 levels could act as resistance. In addition, note the descending 200-hour simple moving average near 2,020.00. Higher above, the 2,035.00/2,040.00 range is capable of impacting the price.

Meanwhile, a resumption of the previous decline is expected to look for support in the 2,000.00 mark, the 50-hour SMA and the 1,995.00 mark. Further below, the 1,985.00 is highly likely to once again impact the rate.
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.