Gold declines below 1,640.00

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


On Wednesday, the price for gold passed below the 1,640.00 level's support. By the middle of the day, the pair had reached the 1,630.00 level.

An extension of the decline might look for support in round price levels, prior to reaching the September low levels near 1,615.00.

On the other hand, a recovery of the commodity price would face resistance in the 1,640.00 level. Higher above, note the upper trend line of a channel down pattern and the 50 and 100-hour simple moving averages near 1,650.00.
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