Gold surge bounces off 1,880.00

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


The surge of the US Consumer Price Index on Friday ended at the 1,870.00/1,880.00 zone. Note that the 1,880.00 level acted as resistance and a decline started, as this week's trading began. At mid-day European trading hours, the commodity price found support in the combination of the 1,850.00 level and the 50, 100 and 200-hour simple moving averages.

If the metal finds enough support in the 1,850.00 level to resume its price surge, the 1,871.00/1,880.00 zone is expected to act as resistance. Higher above, the 1,900.00 mark is highly likely going to slow down a potential surge.

In the case of a decline of the commodity price below 1,850.00 support would first be looked for in the 1,840.00 mark and the 1,837.00 level. Further below, note the 1,825.00/1,830.00 zone.
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Tue, 14 Jun 2022 09:25:34 GMT

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