Gold analysis: Breaks resistance zone

Dukascopy Bank Team Dukascopy Bank SA

Gold

At 12:30 GMT on Wednesday, the yellow metal's price jumped due to the release of the US Producer Price Index. The metal managed to pass the resistance zone, which was located below the 1,820.00 level. However, following the surge, the price found resistance in the 1,830.00 mark.

In the case that the 1,830.00 mark fails to continue to provide resistance, the pair would most likely gradually surge from one round price level to another. On the other hand, a decline is highly likely going to find support in the previously passed 1,818.00/1,820.00 zone.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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