The price of gold found enough support in the 200-hour simple moving average to surge and pass the 1,800.00 level together with the 55 and 100-hour simple moving averages, which strengthened the round price level. On Thursday morning, the price was testing the resistance of the 1,805.00 level.
If the price continues to surge, it would most likely test the resistance of the 1,810.00 level, which reversed the metal’s recovery on Monday.
On the other hand, a decline of the metal could find support in the combination of the 55 and 100-hour simple moving averages above the 1,795.00 level. Below the 1,795.00, the 200-hour SMA at 1,786.00 might once again act as a support level.
