Gold trades around 1,980.00

Note: This section contains information in English only.
Source: Dukascopy Bank SA


With the exception of a short spike above 1,990.00 that was caused by the CPI, the price consolidates at 1,980.00, as it was described as possible on Monday. However, the Fed should finally move the metal's price. Meanwhile, before the event the 50-hour simple moving average was observed to be acting as resistance.

A potential surge would face the resistance of the 1,990.00 level or the 2,000.00 mark.

In the case of an extension of the recent decline, support might be found in 1,970.00 or 1,950.00 levels.
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