The gold price moved flat on Friday after a series of price declines since the beginning of the week were shown on the XAU / USD chart.
The lowest price recorded yesterday at 1850.00 recorded a 9-week low.
However, the price is seen again making a rise to the level of 1875.00 which is seen as the SBR zone (support become resistance). The Moving Average 50 (MA50) barrier level was also tested before the closing price of New York session trading was lower.
Market sentiment, however, is still seen as risky, but the temporary depreciation of the US dollar has allowed room for gold prices to rise slightly again.
If the US dollar strengthens again, it is likely that the price of gold will fall even lower.
In today's trading, the SBR level of 1875.00 has not yet broken, but the price has already passed the dynamic barrier MA50. Will there be a change in the price trend?
If the rise manages to rise higher above 1875.00, the price increase is expected to return to the concentration level of 1900.00.
On the other hand, if the price continues to decline, the support level of 1850.00 reached yesterday will be broken for the price to continue recording the latest low.
Further decline will make the level of 1800.00 as the target of the next destination if the price of gold continues to fall.
