On the XAU / USD price chart which measures the value of gold against the US dollar, trading in the European session today shows the price moving above the 1850.00 level.
The price hike continued after a horizontal move in several previous sessions as investors waited for a clearer signal from US Treasury Secretary Janet Yellen's statement on economic stimulus packages.
Yellen urged lawmakers to be more aggressive on economic aid and not worry about debt.
The situation that drives the depreciation of the US dollar also gives room for gold to rise again.
Although the price on the XAU / USD chart is starting to show an upward trend, the price movement is still seen to be slow.
The price increase is expected to reach the resistance level at 1875.00 before heading towards the focus level of 1900.00.
However, if the price falls again, the price support zone is seen at the level of 1820.00 before the price drops to the important level of 1800.00.
Investors are also likely to be wary ahead of the inauguration ceremony of Joe Biden as President of the United States replacing Donald Trump.
