Gold breaks resistance of 1,950.00

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


At mid-day on Thursday, the price for gold broke the resistance of the 1,950.00 mark. By 14:00 GMT, it appeared that the price was confirming the 1,948.00/1,951.50 zone as support.

In the case that the price for gold surges higher, it might encounter resistance in the 1,960.00 mark, which had acted as support on March 11. Above the round price level, the par might approach the February high level at 1,975.00 and the zone that surrounds this level.

Meanwhile, a decline would have to pass the 1,948.00/1,951.50 zone, before approaching the combination of the 50, 100 and 200-hour simple moving averages near the 1,930.00 mark.
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