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Prior to the US CPI release, the price for gold steadily continued to gain. By mid-Tuesday, the pair had reached above 2,030.00.
The ongoing surge of the metal's price could encounter resistance in the 2,050.00, 2,060.00 and 2,080.00 levels that 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 2,030.00 mark and the 50 and 100-hour simple moving averages near it. Further below, the 2,000.00 mark will act as support.
Tue, 09 May 2023 11:27:50 GMT
Source: Dukascopy Bank SA
Prior to the US CPI release, the price for gold steadily continued to gain. By mid-Tuesday, the pair had reached above 2,030.00.
The ongoing surge of the metal's price could encounter resistance in the 2,050.00, 2,060.00 and 2,080.00 levels that 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 2,030.00 mark and the 50 and 100-hour simple moving averages near it. Further below, the 2,000.00 mark will act as support.