Gold trades around 1,750.00

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


The price for gold has recently been trading between the support of the 1,740.00 and resistance of 1,760.00 levels. Meanwhile, the commodity has been ignoring the 50, 100 and 200-hour simple moving averages. At mid-day on Tuesday, the price was approaching the 1,760.00 level.

A move above the 1,760.00 would not immediately indicate a broader surge, as the level was pierced on Monday, before the price plummeted down to 1,740.00. Higher above, take into account the 1,766.15/1,767.70 zone, which has acted as support and resistance.

However, a decline of the commodity price could find support in the 1,750.00 mark, before approaching the 1,740.00 level.
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