Gold recovers to 1,925.00

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


The low level zone near 1,915.00 has provided enough support for the price for gold eventually reaching above the 1,920.00/1,923.00 range and the 50-hour simple moving average. However, the commodity appears to have started trade around the 1,925.00 mark.

A recovery of the commodity price could result in the rate encountering resistance in the 100-hour simple moving average near 1,927.00. Above the moving average, the price is expected to test the resistance of the 1,930.00/1,932.25 zone and the 200-hour simple moving average.

On the other hand, a decline might look for support in the 1,920.00/1,923.00 range and the 50-hour simple moving average. Further below, take into account the 1,915.40/1,916.25 range.
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