Gold reaches above 1,800.00

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


The string of news, which have caused a decline of the USD, have propelled the price for gold above 1,800.00. The price has passed above 1,785.20/1,786.30 zone and the 1,800.00 mark. On Friday, it was assessed that the commodity was finding support in the 1,795.00 level and resistance at 1,805.00. Namely, the pair was trading around 1,800.00.

A move above 1,805.00 would result in the metal trading at levels not seen since early July. In July, the 1.815.00 and 1,825.00 levels provided resistance. The same could occur during the upcoming week.

On the other hand, a decline of the price below 1,795.00 could look for support in the 1,785.20/1,786.30 zone and the 50-hour simple moving average. Further below, the 1,775.00 and 1,770.00 levels might act as support.
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