Gold reaches new all-time-high

Source: Dukascopy Bank SA


Gold has finally managed to break above 2,530.00. A new high has been booked at 2,555.00, which is acting as resistance. Meanwhile, the price is finding support at 2,545.00.

An extension of the ongoing surge could encounter resistance in any of the round price levels. However, it is most likely that the 2,600.00 will act as a major resistance.

On the other hand, in the case of a decline it is expected that the 2,545.00 and 2,535.00 levels will act a support, before the rate reaches the 2,530.00 level. Further below, the ascending 50, 100 and 200-hour simple moving averages might act as support.
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