Gold traders are seen to be struggling to break the $ 1,800 price level after the price fell below that level last week.
On the XAU/USD price chart which measures the value of gold against the US dollar has shown a decline in the price last week has tested the 1780.00 zone for a few days which is the current support zone for gold.
Until early trading yesterday, the zone remained blocking a lower gold depreciation to support a rebound.
However, the 1800.00 zone is still difficult to break after last Friday's bullish attempt was stranded in the middle of the road when the price dropped back to the 1780.00 support zone.
Investors are still vigilant waiting for the latest report on the threat of the Covid-19 Omicron variant that has hit the world.
This latest outbreak is seen again as a factor in curbing economic recovery measures, and some countries have even prepared to implement restrictions on movement again.
The movement of the US dollar, which affected the change in the value of gold in the market, also showed gloomy action while investors were cautious ahead of the release of the US NFP employment data report this weekend.
In addition, investors are looking at the next step by the Federal Reserve (Fed) for tightening their policies which is likely to be hampered by the emergence of a new variant of the Omicron Coronavirus.
If the gold price continues to fail to break the 1800.00 level, the decline is likely to be expected to re -test the 1780.00 support.
A lower decline through the zone would expect the price to decline towards the level of around 1760.00.
However, if the gold price manages to break through 1800.00, the next resistance level that is seen to be the target is at 1830.00.
For a clearer bullish trend movement for gold, investors would like to return to see the focus zones at 1850.00 and 1870.00 successfully re -reached.
