The gold price this week still failed to pass the $ 1,900 level when the price reached the beginning of the Asian session yesterday before the price resumed.
The XAU / USD price chart which measures the value of gold against the US dollar saw an attempt to increase prices for 2 consecutive weeks but failed to stay above the $ 1,900 level just to test it.
The depreciation factor of gold trading this week was seen to be based on the development of the United States (US) economic stimulus package after President Donald Trump signed the package.
Adding to the joy of the US people when the $ 600 aid will be increased to $ 2,000 after the House of Representatives approved the proposal after being criticized by Trump earlier.
Such positive sentiment has restored investor confidence in the market as well as prompted investors to relinquish their safe-haven asset holdings and switch to high-return markets.
It can be seen that the price of gold has declined again but is still supported above the level of 1875.00 with a slower price movement on Tuesday.
A drop in the price below the support level of 1875.00 will push the price to move lower towards the RBS zone (resistance become support) around 1850.00.
However, if the price returns to the surge again, the resistance level of 1900.00 will be tested again.
Beyond these important levels, investors will monitor the next levels of focus as in the price zones 1910.00 and 1938.00.
