Mon, Mar 27, 2023 @ 19:16 GMT
HomeContributorsTechnical AnalysisGold Price Started a Fresh Surge Above $1,820

Gold Price Started a Fresh Surge Above $1,820

Gold price started a fresh surge above the $1,820 resistance against the US Dollar. The price cleared a major hurdle near $1,850 and the 50 hourly simple moving average.

The price even broke the $1,880 resistance and traded as high as $1,894 high. It is now consolidating gains, with an immediate resistance on the upside near the $1,895 level.

The first major resistance is near the $1,900 level. The next main resistance could be near the $1,920 level, above which the price could start a steady increase towards the $1,935 level. Any more gains might send the price towards $1,950 on FXOpen.

On the downside, an immediate support is near the $1,870 level. The next major support is near the $1,860 level, below which the price might decline towards the $1,850 support level in the near term.

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