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The price for gold passed the 1,745.00/1,755.00 zone at midnight to Thursday GMT hours. During the European morning hours, the price extended its recovery and reached the 1,765.00 level. In general, the move was attributed to a broad weakness of the US Dollar.
If the price extends its recovery, the 1,800.00/1,807.75 zone could once again be reached and tested. However, take into account that round price levels might act as resistance.
On the other hand, a decline of the commodity price could look for support in the 1,745.00/1,755.00 zone and the 50 and 100-hour simple moving averages, before returning to the 1,730.00 mark.
Thu, 25 Aug 2022 08:41:32 GMT
Source: Dukascopy Bank SA
The price for gold passed the 1,745.00/1,755.00 zone at midnight to Thursday GMT hours. During the European morning hours, the price extended its recovery and reached the 1,765.00 level. In general, the move was attributed to a broad weakness of the US Dollar.
If the price extends its recovery, the 1,800.00/1,807.75 zone could once again be reached and tested. However, take into account that round price levels might act as resistance.
On the other hand, a decline of the commodity price could look for support in the 1,745.00/1,755.00 zone and the 50 and 100-hour simple moving averages, before returning to the 1,730.00 mark.