During Monday's Asian trading hours, the price of gold climbed above the November 10 high level, as the price touched the 1,870.00 level's resistance. However, afterwards, the price retraced back down, before appearing to start another attempt to pass the resistance of the 1,870.00 level.
In the case that the price passes above the 1,870.00 level, the yellow metal could eventually approach the 1,900.00 mark. Although, note that round price levels might provide resistance.
On the other hand, a decline of the price might find support in the 100-hour SMA near 1,850.00, before reaching the support zone at 1,841.70/,1,845.60.
The material has been provided by InstaForex Company - www.instaforex.com