Gold approaches 1,765.00 level

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


At mid-day on Wednesday, the price for gold made an attempt to reach the 1,765.00 level. However, it appeared that the price failed, as it retraced to the 1,755.00 level.

The price could resume its surge, if the rate finds support in the combination of the 50, 100 and 200-hour simple moving averages. A potential surge would face resistance in round price levels and the 1,766.15/1,767.70 zone, which has acted as support and resistance.

On the other hand, a move below the moving averages and the 1,750.00 mark could look for support in the 1,740.00 level.
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