Gold trades at 1,720.00/1,730.00.

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


In the aftermath of almost touching the 1,740.00 level, the price for gold declined. On Monday morning, the pair was trading sideways between the 1,720.00 and 1,730.00 levels.

In the case of a decline of the commodity price, support might be found in the 50, 100 and 200-hour simple moving average combination near the 1,710.00/1,715.00 levels. Further below, the 1,700.00 mark is expected to act as support.

On the other hand, a surge of the bullion might encounter resistance in the 1,740.00 level, before approaching the resistance zone at 1,743.85/1,752.60.

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