After experiencing a sharp surge and decline on Thursday, on Friday morning, the yellow metal’s price was testing the resistance of the 1,950.00 level. The 1,950.00 level was also strengthened by the 200-hour simple moving average.
If the 1,950.00 mark fails to keep the rate down, the metal could surge and test round price level resistances until it reaches the 2,000.00 level.
On the other hand, the 200-hour SMA and the 1,950.00 level could cause a decline. A decline would immediately look for support in the 55 and 100-hour SMAs near 1,935.00.
