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In general, since mid-Thursday, the price for gold has been fluctuating between round price levels. Namely, the 1,780.00 mark acted as resistance and the 1,775.00 and 1,770.00 are acting as support. It can be expected that the bullion continues to be impacted by price levels.

If the price continues to decline, it would eventually reach the December low levels at 1,762.20/1,763.80. Below this level, the next target could be the 1,750.00 mark.

A recovery of the price might find resistance in round price levels until it reaches the combined resistance of the 50, 100 and 200-hour simple moving averages near 1,780.00.

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