Gold dropped on Tuesday morning down tot he support of the hourly simple pivot points near 1,555.00. During the morning hours, Dukascopy Analytics did not see a clear reason for the drop in the news agency news flows.
In the meantime, from a technical analysis perspective, the rate has the support of the 200-hour SMA holding it up. If the 200-hour SMA manages to cause a surge, the rate would test the 55-hour SMA at 1.558.77.
On the other hand, if the 200-hour SMA fails, the metal’s price would have no technical support as low as the monthly pivot point at 1,544.31.
