Gold prices soared on Friday trading following shocking news of US President Donald Trump's report confirming COVID-19 positive.
On the official social site Trump also confirmed that he and his wife, Melania Trump are positive for COVID-19 after undergoing screening tests and will start quarantined.
The market reacting to the issue has seen the price of gold soar as investors return to safer investor assets due to concerns over the issue.
On the XAU / USD price chart, the Asian session saw the price fall below the 1900.00 level to the 1890.00 level. However, the price jumped again above the 1900.00 level following the news of Trump confirming positive COVID-19.
Continued trading in the European session still sees the momentum of the gold price surge with the expectation that gold prices will also rise against the US dollar.
The price increase on the XAU / USD chart is expected to reach the level of 1838.00 which is the SBR zone (support become resistance).
However, prices have the potential to rebound if the US dollar strengthens again. The strengthening of the US dollar will be influenced by the US NFP employment data report published at the beginning of the New York session.
If the price goes down again, the 1900.00 level will be tested again for the price to continue lowering to the lower level again.
The RBS zone (resistance become support) 1875.00 will be the focus before the price leads to the support zone 1850.00
