Gold remains near 1,800.00

Source: Dukascopy Bank SA


In general, the price for gold has increased volatility due to US fundamental events. Namely, the US employment data caused a drop below the support ranges near 1,795.00 and 1,785.00. However, a recovery followed, which reached the resistance of the 1,810.00 level on Monday morning.

A decline of the price for gold might look for support in the 1,794.00/1,795.85 and 1,785.20/1,786.30 zones. In addition, note the 50 and 100-hour simple moving averages near 1,795.00 and 1,780.00.

On the other hand, a resumption of the surge of the price for gold would have to once again pass the 1,803.30/1,804.50 zone, prior to testing the 1,810.00 level.
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