On Thursday, the yellow metal’s price managed to pass the resistance of the zone that is located near the 1,825.00 mark. On Friday morning, the price confirmed the zone as support.
Meanwhile, the July high level zone has been marked on the chart. The zone provided resistance on Thursday and caused the most recent retracement back down.
If the price passes the resistance zone of the July high levels, eventually the metal could aim at the 1,850.00 mark. However, round price levels could slow down the surge.
However, a decline below the support zone near 1,825.00 could look for additional support in the 55, 100 and 200-hour simple moving averages at 1,815.00 and near 1,808.00.
