The price for gold jumped on Friday due to the publication of the US employment data. The metal reached above the 50, 100 and 200-hour simple moving averages near 1,780.00. Since then, the bullion has been fluctuating between the support of the moving averages and the resistance of the 1,790.00 level.
A move below the simple moving averages might reach for the support of the Friday low level at 1,770.45. Below the low level, the December low at 1,762.20 could stop a decline.
However, a surge of the price would need to pass the 1,790.00 level, before reaching the 1,800.00 mark.
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