Gold respects round levels

Source: Dukascopy Bank SA


The price for gold has been highly volatile in the range between 2,640.00 and 2,670.00, as various US data sets were being published. In general, the commodity price appears to be consolidating.

If the consolidation ends with a surge, the pair would test the resistance of the 2,685.00 level that marks the all-time high level.

However, a decline below 2,640.00 is expected to look for support in the 2,625.00 level, before approaching the 2,600.00 mark.
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