Gold Price: Key levels to watch

As per our Technical Confluence Detector, Gold price trades successfully beyond the $1,962 support confluence comprising Fibonacci 38.2% on one-day and 100-HMA.

Also acting as the short-term key support is the $1,960 mark that encompasses the 5-DMA, previous monthly high and Fibonacci 23.6% on one-week.

Should the quote drops below $1,960, the odds of its fall towards the latest swing low surrounding $1,930 can’t be ruled out.

Meanwhile, the previous weekly high and upper band of Bollinger on hourly play highlights $1,992 as an immediate upside hurdle.

Following that, the $2,000 psychological magnet and upper band of Bollinger on four-hour play, close to $2,002, may act as an extra filter towards the north.