Gold touches 1,615.00

Source: Dukascopy Bank SA


The decline of the price for gold has reached the 1,615.00 level. The commodity price has been gradually declining from one round price level to another. In general, the situation remains unchanged.

A resumption of the decline of the metal's price might continue from one round price level to the next one until the 1,600.00 mark would be reached.

In the meantime, a recovery of gold could encounter resistance not only in the 1,640.00 and 1,645.00 levels, but also the 50-hour simple moving average.
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