Gold remains near 2,000.00

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


The price for gold remains above the 1,990.30/1,997.15 zone, as it looks for support to start a surge. Meanwhile, the 100 and 200-hour simple moving averages are trying to catch up with the rate. In general, previously described scenarios remain valid.

A passing below the support range's lower level of 1,990.30 and the 100-hour simple moving average would result in the metal looking for support in the 1,980.00 and 1,970.00 levels and the ascending 200-hour simple moving average.

On the other hand, a surge of the commodity price is expected to face the 2,010.00 mark, before approaching the 2,040.00 and 20,48.20 levels that have shown to be capable of impacting the metal. However, note that another round price level could turn into resistance.
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