Gold prices moved lower to below $ 1,900 per auns earlier as the market witnessed a surge in trading of the yellow metal late last week when US President Donald Trump's report was confirmed positive for Covid-19.
In trading last Friday, the price of gold on the XAU / USD chart had shown a surge over 1900.00 to reach a high of 1917.00 before slowing price movements and closing last week's trades at around 1900.00 initially.
Starting trading this week, the gold price is moving to make a decline below the 1900.00 level and also below the Moving Average 50 (MA50) barrier level for the 1 hour price movement.
If Trump's health gets worse, the safe-haven US dollar may re-establish itself and push the gold price lower.
However, the somewhat mixed United States (US) NFP employment data report published last week is likely to help confirm the establishment of the main eye.
If you look at the initial hints of the downward trend in gold prices earlier this week, the decline is expected to be around 1875.00 for the price to test the RBS (resistance become support) zone.
If the price succeeds in releasing it, further decline is seen to be towards the support level at 1850.00
Conversely, if the hagra resumed its gains last Friday, prices will try to surpass last week's highs.
The further increase will make the 1938.00 face on the SBR zone (support become resistance) as the fulcrum destination.
