Gold returns to 2,000.00

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


The price for gold jumped after the Fed rate hike and touched the 2,080.00 mark. However, the event was followed by a decline on Friday, as markets expected a possible additional banking sector bail out. On Monday, there was no bail out and gold resumed to surge. By mid-day, the price had almost reached back to 2,030.00.

The ongoing surge of the metal's price could encounter resistance in the 50-hour simple moving average near 2,030.00 and other round price levels. The 2,050.00, 2,060.00 and 2,080.00 levels have acted as resistance during the second part of past week's trading.

On the other hand, a decline is almost certainly going to look for support in the 2,000.00 mark, which has impacted the price since mid-April.
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