Gold trades in 1,820.00/1,830.00 range

Source: Dukascopy Bank SA


The price for an ounce of gold remains near levels that were reached during early Tuesday's trading. In general, the price fluctuates between 1,820.00 and 1,830.00. Meanwhile, it appears that the 50-hour simple moving average does not impact the rate.

A decline is expected to look for support in the low level zone at 1,805.00/1,808.00. Afterwards, the 1,800.00 mark is most likely going to act as support.

On the other hand, a recovery of the commodity price could face resistance in the form of the100-hour simple moving average, before reaching the 1,860.00 and 1,880.00 levels that have acted as support and resistance.
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