GOLD Shows Another Rise In Weekend Trading

 The continued depreciation of the US dollar until the end of trading has supported the rise in gold prices above the $ 1900 level.


During yesterday's trading on the XAU / USD chart, the price tested the 1900.00 level but failed to pass before showing a reversal.


The increase displayed today has successfully surpassed the 1900.00 level and headed for the resistance zone tested last week around 1917.00.


The US dollar depreciated as market sentiment recovered with the development of the United States (US) economic stimulus package.


President Donald Trump is seen to have changed his mind in talks with Democrats and he wants greater fiscal support to be implemented.


The report has boosted the stock market and gold trading has also increased with the depreciation of the US dollar.


The price increase that crossed the resistance level last week will lead to the level of 1938.00 in the SBR zone (support become resistance) before continuing to rise higher.



On the other hand, if the price decline occurs again, the level of 1900.00 will return to the focus for investors to assess whether the price can fall lower.


Next the support zone in 1850.00 will be the destination of focus on continued price decline.