Gold trades near 2,000.00

Source: Dukascopy Bank SA


The price for Gold retreated below 2,000.00 on Monday, before finding support in the combination of the 1,990.00 level and the 200-hour simple moving average. At mid-day on Tuesday, the commodity price was testing the resistance of the 2,000.00/2,010.00 range.

A move above 2,010.00 might encounter resistance in round price levels, before reaching the 2,050.00 mark.

On the other hand, a decline could look for support in the 1,990.00 level and the 200-hour simple moving average. Further below, note the February and January high levels near 1,960.00 and 1,949.00.
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