Start Carving A Smile On The 'Gold Digger' Lips

 Gold trading again showed a rise above the $ 1900 level yesterday for a positive movement of 3 consecutive sessions up to the European session on Friday.


US dollars traded slightly lower over the weekend giving room for rising gold prices.


Investors are still waiting for the development of the United States (US) economic stimulus package despite hopes fading as well as political uncertainty ahead of the presidential election with less than 3 weeks left.


The price movement on the XAU / USD chart rose to a high of around 1912.00 during the European session testing the SBR (support become resistance) zone.


Prices that continue to rise higher will test the weekly resistance level around 1930.00 and also the resistance zone 1938.00.


However, if the US dollar strengthens again in the New York session, the fall in gold prices is expected to return below the 1900.00 level.


Yesterday's price support level around 1890.00 will be tested again before a lower price drop will lead to the 1875.00 support zone.



Monitor current market sentiment especially the focus on US economic stimulus packages as well as cases of Coronavirus infection that will affect price movements.