After sweating, the gold founders saw the fall of the yellow metal last week, at the end of last week's trade saw the price of gold began to show its initial increase.
The fall in gold prices in the market last week was driven by the strengthening of the US dollar currency in hopes of the United States (US) economic recovery.
In the XAU / USD price chart, which measures the value of gold against US dollars, the price is seen to have recorded a fall since the beginning of last week so that it has gone below 1800.00.
However on Thursday, prices that broke the weekly low around 1785.00 again showed an initial advance above the 1800.00 level ahead of Friday's US NFP jobs data report.
Prices continue to rise so that last week's trade ends with a follow-up to the US NFP data report published with less stimulating reading leading to a depreciation in the value of the original US dollar.
Continuing on early trading this week, gold prices are moving flat and testing the initial 1820.00 barrier zone prior to this.
The price movement above the Moving Average 50 (MA50) support level on the 1 hour frame is also an early clue for changes in the trend in gold prices.
If the price surges over the 1820.00 hurdle, the initial advance is targeted so that it will come to the face of the hurdle before this around 1850.00.
Conversely, if the price resumed last week's downward trend, the price would move down below the 1800.00 level and test once again the 1785.00 level as price support that was broken last week.
A lower slide is seen to be heading towards the level around 1765.00 for the price to test the support zone that was broken in late November last year.
