Gold remains below 2,600.00

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


During the Federal Reserve rate cut and the follow-up press conference, the price of gold confirmed the 2,600.00 mark as resistance and then support at 2,550.00. After the fundamental volatility, the price recovered and by late Thursday was testing the resistance of the 2,590.00/2,600.00 range.

In the case of a surge of the price above 2,600.00, there will be no previously notable levels to watch, as the price will book new all-time highs. However, it is clear that the previous trend of round price levels impacting the metal will remain.

A potential decline of the yellow metal is set to look for support in the 50 and 100-hour simple moving averages and the 2,570.00 and 2,560.00 levels, before reaching the 2,550.00 mark.
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