Gold reaches below 2,300.00

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


As the US Dollar continues to strengthen, the price for gold has declined. The USD has been strengthening due to risk on sentiment increasing after tensions in the middle east did not escalate. Meanwhile, the talk of rising inflation in the US has been continuing, as pressure increases on the US Federal Reserve to tighten policy.

On Tuesday, the metal's price was already below 2,300.00. The ongoing decline could look for support in early April's support and resistance zones near 2,265.00 and 2,225.00.

On the other hand, a recovery of the metal would have to break the descending trend line that guides the price lower. Higher above, note the resistance of the 2,320.00, 2,340.00 and 2,360.00 levels.
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