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The drop of the US Dollar that was caused by the Federal Reserve boosted the price for gold. The commodity jumped and eventually surged to the resistance of the 2,040.00 mark. Meanwhile, throughout first part of Thursday's trading, the price was finding support in 2,030.00.
A surge above 2,040.00 could face resistance in the 2,050.00 and 2,060.00 levels. Higher above, note the 2,080.00 mark and the all time high levels at 2,120.00/2,140.00.
On the other hand, a potential decline of the price is expected to look for support in the 2,007.45/2,012.75 range and the 200-hour simple moving average. Close to these levels, note the 2,000.00 mark and the combination of the 50 and 100-hour simple moving averages.
Thu, 14 Dec 2023 10:10:36 GMT
Source: Dukascopy Bank SA
The drop of the US Dollar that was caused by the Federal Reserve boosted the price for gold. The commodity jumped and eventually surged to the resistance of the 2,040.00 mark. Meanwhile, throughout first part of Thursday's trading, the price was finding support in 2,030.00.
A surge above 2,040.00 could face resistance in the 2,050.00 and 2,060.00 levels. Higher above, note the 2,080.00 mark and the all time high levels at 2,120.00/2,140.00.
On the other hand, a potential decline of the price is expected to look for support in the 2,007.45/2,012.75 range and the 200-hour simple moving average. Close to these levels, note the 2,000.00 mark and the combination of the 50 and 100-hour simple moving averages.