Gold declines to 1,655.00

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


In general, the price for gold has been almost flat. On Thursday, the price descended below the 50-hour simple moving average and touched the 1,655.00 level.

If the price for gold continues to decline, the 1,655.00 level and the 100-hour simple moving average are the first levels, which could act as support. Further below, the 1,650.00 mark is being strengthened by the 200-hour simple moving average.

On the other hand, a recovery of the commodity price is set to encounter resistance in the 1,670.00 level, before reaching the 1,678.75/1,683.85 range, where the early October high level zone is located at.
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Fri, 28 Oct 2022 11:37:31 GMT

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