The yellow metal passed the resistance zone below the 1,795.00 level in a sharp move upwards. During the surge, the rate passed the 1,800.00 mark and confirmed the 1,795.00 level as support. Since the surge at mid-day on Monday, the commodity price has been trading sideways around the 1,805.00 level.
In the case of a surge, the commodity price could reach for the August and July high level zone at 1,830.00/1,835.00. On the other hand, a potential decline could look for support in the 1,795.00 level and the 55 and 100-hour simple moving averages near 1,790.00.
