Gold Analysis: remains below 1,500.00

Dukascopy Bank Team Dukascopy Bank SA

Gold

On Tuesday, the yellow metal's price remained below the 1,500.00 level, as it was kept down by a monthly pivot point at 1,498.29.

In the near term future, the metal was expected to continue to trade sideways between the 1,490.00 and 1,500.00 level until a break-out occurs.

If the rate breaks out up or down, in both cases it would have large ranges without any technical level that could stop a surge or a fall. Namely, any break out would be sharp and large.

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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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