Gold once again trades near 1,720.00

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


The support of the 1,688.65/1,692.90 zone was enough to cause a surge of the commodity price to the 1,720.00 mark. During Thursday's European morning hours, the price was piercing the round price level.

A move of the price higher might encounter resistance in round price levels. Note the 1,725.00 level, which reversed the recovery on Monday.

However, a decline of the price could look for support in the 200-hour SMA near 1,715.00. Further below, note the 50 and 100-hour simple moving averages near 1,710.00. Afterwards, the 1,700.00 mark might act as support, before the metal reaches the 1,688.65/1,692.90 zone.
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