Gold consolidates near 2,015.00

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


After the initial surge, on Monday the price for gold fluctuated between the 2,010.00 and 2,015.00 levels. On Tuesday, the price firmly fluctuated around the 2,015.00 mark.

A proper move above 2,015.00 might encounter resistance in other round price levels. In the meantime, any sharp surge is set to be slowed down by the upper trend line of the channel up pattern.

On the other hand, a decline of the commodity price would look for support in the 2,005.00 level, before reaching the 50 and 100-hour simple moving averages and the lower trend line of the channel pattern.
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