Gold trades around 1,740.00

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


Throughout this week, the price for gold has fluctuated between the support of the 1,732.50/1,733.20 zone and resistance at 1,745.30/1,749.60. Meanwhile, for short periods of time the 50-hour simple moving average has managed to impact the price.

In the case of a decline below 1,732.50, the price could find support in the 1,730.00 level, which impacted the metal in September. Further below, round levels might act as support, before the 1,700.00 mark is reached.

Note that the 100-hour simple moving average has reached the 1,745.30/1,749.60 zone. A surge above this zone could encounter resistance in the 1,750.00 mark, before approaching the 200-hour simple moving average near 1,758.00.
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