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In general, the price for gold remains in previous range. However, take into account that round price levels appear to be providing short term impact on the commodity price. Meanwhile, broader support and resistance zones remain unchanged.
A recovery of the metal's value might encounter resistance in the 2,000.00 mark and the 2,000.00/2,010.00 range. Higher above, note that round price levels acted as resistance and support during the first half of April.
A decline of the commodity price would have to reach below 1,970.00, before approaching the February and January high levels at 1,960.00 and 1,949.00.
Mon, 01 May 2023 12:16:38 GMT
Source: Dukascopy Bank SA
In general, the price for gold remains in previous range. However, take into account that round price levels appear to be providing short term impact on the commodity price. Meanwhile, broader support and resistance zones remain unchanged.
A recovery of the metal's value might encounter resistance in the 2,000.00 mark and the 2,000.00/2,010.00 range. Higher above, note that round price levels acted as resistance and support during the first half of April.
A decline of the commodity price would have to reach below 1,970.00, before approaching the February and January high levels at 1,960.00 and 1,949.00.