Gold trades below 1,900.00

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


Despite the mid-week boost of Jerome Powell to the price of gold, the commodity retraced back to 1,910.00 on Thursday. On Friday, the US high employment data caused a drop of the commodity. Gold clearly passed below the support zone at 1,900.00 and reached even below 1,880.00.

Below the 1,880.00 mark, the 1,870.00 might act as support. Below these levels round levels are expected to continue to impact the price at 1,860.00, 1,850.00 and 1,830.00.

On the other hand, a recovery of the commodity price is bound to encounter resistance in the zone that surrounds 1,900.00.
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