Gold prices remained flat on the third day after a drastic decline on display earlier this week.
While the market continues to look forward to further development of the vaccine and the case of Coronavirus infection, gold prices are moving flat above the $ 1800 level until the end of the week.
On the XAU / USD price chart, the level of 1800.00 can be seen as the price support level where the price fails to continue lower below that level.
The price moving around the Moving Average 50 (MA50) line in the 1 hour time frame of the failed price movement gives a clearer signal to the investor for the direction of the gold price.
Expectations for the price of gold to soar on yesterday's trading also faltered when the price dropped again near the support level of 1800.00.
However, investors expect larger price movements after the horizontal situation this week.
If the price increases, the SBR zone (support become resistance) 1850.00 will be the main focus of the price.
On the other hand, if the price of gold manages to break through the support of 1800.00, the next support level that is expected to be the focus is around 1760.00.
