The gold price movement is volatile with a focused focus on the US economic stimulus package to be launched by President Joe Biden.
However, investors are beginning to worry about the expected delay in the implementation of such economic assistance which will slow down the economic recovery.
Investors are also cautious ahead of the FOMC meeting this week with a statement by the Federal Reserve (Fed) to be evaluated as an indicator of the US economic recovery process.
If you look at the price movement on the XAU / USD chart which measures the value of gold against the US dollar, the price is moving horizontally above the support level of 1850.00.
The level was tested again in today's European trading session but prices are still finding it difficult to get lower.
The strengthening of the US dollar earlier this week drew prices to fall lower and the situation potentially pushed the price back to the 1800.00 support zone.
On the other hand, if the price manages to soar again, the resistance level at 1875.00 becomes the target for the price to test the SBR zone (support become resistance).
And a higher rise can be reached up to the focus level of 1900.00 again if the price continues to move in a bullish trend.
But current market sentiment will continue to be a factor driving the movement of gold value in the market.
