Gold respects round price levels

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Since touching the 1,870.00 level on Wednesday, the yellow metal's price has started to trade in the range between the 1,841.80/1,845.00 zone as support and the resistance of 1,865.00/1,870.00. Most recently, the rate found support in the 1,845.00 level and started a surge that was set to reach the 1,865.00 mark.

If the price passes the resistance of the 1,865.00/1,870.00 zone, the yellow metal's price could aim at the 1,900.00 mark. However, note that other round price levels could act as resistance.

On the other hand, a decline of the price might once again find support in the 1,841.80/1,845.00 zone and the 100-hour simple moving average, which was approaching the zone from below. Although, note that the 50-hour SMA recently caught up with the price and made no notable impact.
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