Gold trades near 2,000.00

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


The price for gold dipped due to the release of the US CPI. The metal traded as low as the 1,985.00 mark. However, a recovery started on Thursday. the price moved above 1,995.00 and the 2,000.00 mark, before appearing to have been stopped by the 100-hour simple moving average.

A move above the 100-hour SMA could encounter resistance in the previous support levels. Namely, the 2,010.00, 2,015.00 and 2,020.00 levels could act as resistance. In addition, note the descending 200-hour simple moving average near 2,020.00. Higher above, the 2,035.00/2,040.00 range is capable of impacting the price.

Meanwhile, a resumption of the previous decline is expected to look for support in the 2,000.00 mark, the 50-hour SMA and the 1,995.00 mark. Further below, the 1,985.00 is highly likely to once again impact the rate.
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