Gold bounces off 1,800.00

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


After testing the 1,800.00 level's resistance on Tuesday, the yellow metal declined. On Wednesday, the price was fluctuating almost sideways between the 1,770.00 and 1,785.00 levels. In the meantime, the price appeared to respect the resistance of the 55-hour simple moving average.

In the case of the price passing the resistance of the 55-hour simple moving average and the 1,785.00 level, another test of the 1,800.00 mark could occur.

On the other hand, the metal could fail at surging and decline to the support of the zone near 1,765.00.
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