Gold remains above 2,000.00

Source: Dukascopy Bank SA


The 2,000.00/2,010.00 range has once again impacted the price for gold. The commodity found support in the range and recovered to the 2,020.00 level, where it remained up to mid-Monday.

A potential decline below 2,000.00 could look for support in round price levels until the price reaches the April low level zone at 1,969.15/1,974.00.

On the other hand, a surge of the commodity price might be stopped by the combination of the 2,020.00 mark and the 100 and 200-hour simple moving averages. Higher above, note the marked high levels that have acted as resistance during May.
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