Gold trades near 1,850.00

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Source: Dukascopy Bank SA


Since the US Consumer Price Index release volatility decreased, the price for gold has been fluctuating between the 1,850.00 and 1,858.50 level. However, by the middle of Thursday's European trading hours, the price slightly declined, as it reached and found support at 1,845.00.

A move below the 1,845.00 level could encounter support in the CPI volatility low level at 1,835.00 and the early Wednesday low level at 1,832.40.

Meanwhile, a potential recovery is expected to encounter resistance in 1,850.00 and 1,855.00, before approaching the CPI volatility high level at 1,858.50. In addition, take into account the approaching 100 and 200-hour simple moving averages near 1,860.00 and 1,865.00.
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Fri, 13 May 2022 11:31:41 GMT

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