Gold approaches all-time high

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


Despite declining on Thursday, the price for gold eventually found support in the 2,470.00 mark. Since then, a recovery has taken place. On Friday, the speech by Jerome Powell added strength to the recovery. By mid-Monday, the commodity price was approaching the all-time high levels near 2,530.00.

A breaking above the 2,530.00 level is expected to be slowed down by round price levels, as the price has never been this high.

In the meantime, a decline of the price is set to look for support in the 2,520.00 and 2,510.00, and 2,500.00 levels. In addition, the 50, 100 and 200-hour simple moving averages are set to act as support.
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