Gold touches 1,900.00

Source: Dukascopy Bank SA


The United States Bureau of Labour statistics has just now released the latest Consumer Price Index data. The data reveals how the US inflation has changed during the last month. All data numbers hit the forecasts.

Due to the event, the price for gold hit the 1,900.00 level. However, during the following hour the price retraced down to look for support in the 1,879.30/1,881.60 zone and the 50-hour simple moving average.

A move below the support levels near 1,880.00 might look for additional support in the 100-hour simple moving average and the 1,875.00 level. Afterwards, note the support zone at 1,867.90/1,870.40.

Meanwhile, a resumption of the surge of the metal's price would face the 1,900.00 mark as resistance, prior to reaching new high levels.
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