Gold almost hits 2,050.00

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


The price for gold almost hit the 2,050.00 level, as the US Producer Price Index data caused a drop of the US Dollar at mid-day on Thursday. However, after two attempts to reach the round price level, the commodity started a decline. By mid-Friday, the price had almost reached back to 2,030.00.

An extension of the decline could find support in the ascending 100 and 200-hour simple moving averages or the 2,020.00 mark. However, the price should first pass below 2,030.00 and the 50-hour SMA.

On the other hand, a recovery of the price due to another fundamental shock is set to face the resistance of 2,050.00.

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