Gold trading moved stable earlier in the week after the market saw a price drop below the $ 1900 level.
The downtrend remains under pressure from the strengthening US dollar with rising demand as market sentiment remains risky ahead of this week's US presidential election.
Observing the movement of the gold price on the XAU / USD chart, last week's price decline reached a 4-week low of around 1860.00 before the rise was re-displayed last Friday above the focus level of 1875.00.
Returning to trading this week around the level of 1875.00 at the beginning of the Asian session, the price that is above the support level of Moving Average 50 (MA50) in the 1 hour time frame has seen the price rise but still did not reach last Friday's high level as far as the European session.
Investors remain wary of the development of important issues in the market in addition to the Presidential election which is expected to have a major impact on price movements.
In the meantime, the price of gold is expected to move slowly above the level of 1875.00 and if a rise occurs, the important level of 1900.00 will act as the resistance level of the price.
However, if the price continues to fall lower, the next target is seen around 1850.00 which was tested in last September's trade.
