GOLD Analysis - Will Gold Shine Or Not?

 The XAU/USD price chart, which measures the value of gold against the US dollar, still sees the price 'crawling' slowly as if waiting for a victim in the New York session soon.

Investors are increasingly wary of not getting caught up in a situation of drastic price movements as the US NFP jobs report is published tonight.

Gold trading is also expected to react favorably as the correlative movement of gold against the US dollar will also affect a significant change in the value of the yellow metal.

Since the beginning of the week, the gold price movement has been seen flat after this week's high was reached on Monday around 1823.00 while the weekly low almost reached 1800.00 on Tuesday.

Towards the end of the week the price continues to flatten and the 1810.00 price zone is seen to be an attraction while investors are patiently waiting for a clearer signal for further gold movement.

Of course the US NFP jobs report will drive prices where investors expect gold prices to continue to soar to close the trading curtain this week.

The price surge is expected to test the resistance zone at the height of 1830.00 which is a bullish barrier for July trading as well as early August.

Successfully overcoming the resistance will push the price higher towards the 1850.00 focus zone.

Be wary if the price of gold shows a decline again if the reading of the NFP report is in favor of the strengthening of the US dollar.

An early decline in the price is seen to test the support zone at 1800.00 first to curb the lower fall.

However, if the impact of the price movement is too large, the price that plunges past the 1800.00 zone can reach up to the previous focus level around 1765.00 and also 1745.00.

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