Gold decline approaches support zone

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


The Friday's Jackson Hole central banker meeting has added more force to the ongoing decline of the price for gold. On Monday morning, as the markets opened, the price reached the 1,720.00 level, which appeared to be acting as support.

A passing below 1,720.00 might look for support in the 1,710.00/1,715.00 zone. The zone captures the late July low levels. Further below, the 1,700.00 mark is expected to act as support. The round price level kept the rate up during early July.

Meanwhile, a potential surge of the commodity price might encounter resistance in the 1,750.00 level and the 50, 100 and 200-hour simple moving averages. Higher above, note the resistance of the 1,765.10 level.
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Mon, 29 Aug 2022 11:46:41 GMT

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