Gold trades above 1,900.00

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


The price for gold has surged above the 1,900.00 mark, as a run to safety occurred last week. At the start of this week, the commodity price was consolidating in the 1,895.00/1,915.00 range. The market appears to be waiting for additional fundamental information before moving up or down.

In the case of the metal surging above 1,915.00 resistance might be found in the January and February high levels at 1,949.00 and 1,960.00. However, note that round price levels could slow down a price surge.

On the other hand, a decline of the commodity would have to pass the support of the 1,895.00 level and the 50-hour simple moving average, prior to declining to the 100 and 200-hour simple moving averages near 1,860.00 and 1,850.00.
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