Gold remains near 1,650.00

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


Despite attempting to recover at mid-day on Monday, the price for gold has returned to trade near the 1,650.00 level. On Tuesday morning, the pair attempted a recovery and failed due to the resistance of the 100-hour SMA and the 1,660.00 level.

A resumption of the price recovery could encounter resistance in the 100-hour simple moving averages near 1,660.00. Higher above, the last week's high levels above 1,680.00 might once again stop a surge.

A decline of the metal against the US Dollar might find support in the 1,650.00 level, prior to reaching the 1,640.00 zone.
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Wed, 19 Oct 2022 15:14:07 GMT

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