The price movement on the XAU / USD currency pair which measures the value of gold against the US dollar has continued to disappoint investors as prices have fallen lower today.
On Wednesday's trading, the price had fallen to the previous day's support level around 1830.00 following the continued strengthening of the US dollar during the week of pressing gold trading.
Worse on the trade that continued into the Asian session this morning (Thursday), the value of gold continued to fall until it reached around 1816.00.
However, at the beginning of the European session, prices were seen to rise slightly but remain in a bearish trend.
Price pressures continue to be seen around the zone with the expectation that prices will drop lower and potentially reach the front to the focus support zone at 1800.00.
The movement of the gold price is still influenced by the US dollar where the major currencies remain strong due to investor confidence in the US economic recovery.
However, investors remain cautious ahead of the US NFP employment data report on Friday which will have a significant impact on the US dollar.
If the price on the XAU / USD chart soars again, the resistance level which is the price pull is in the 1850.00 zone.
Next the resistance zone at the high of 1875.00 will be tested at a higher price where the level became resistance to trading a few weeks ago.
