Gold respects 1,900.00 level

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Source: Dukascopy Bank SA


The 1,900.00 range acted as support and caused a sharp retracement back up to the 1,930.00 level. The 1,930.00 has acted as resistance and keeps the commodity price down. Most likely, the price will remain near 1,930.00 until the US Federal Reserve makes a rate statement and the follow up press conference makes its impact.

Higher above, note previous notable round price levels like 1,940.00 and 1,950.00. Meanwhile, support could be once again found near the 1,900.00 mark.

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