It seems that gold trading managed to show a rebound this weekend to close the 2021 trade better.
Previously, the price of gold had fallen below the $ 1,800 price level but managed to rise again yesterday.
Despite the increase, analysts still see risks to the gold commodity with relatively volatile market sentiment.
Following the depreciation of the US dollar in the market has given room for gold prices to rise but a permanent fall is expected to occur.
The price on the XAU/USD chart which measures the value of gold against the US dollar has seen the price rebound from the 1800.00 level yesterday to the 1820.00 high level continued in today's trading (Friday).
The high was reached last Tuesday before prices plummeted again the next day.
Thursday's trade yesterday which showed an increase in the price past the Moving Average 50 (MA50) barrier on the 1 -hour time frame is an indication for investors for the price to make a higher rise.
It is possible that the price can reach the level of 1830.00 before the end of the 2021 trade.
However, if the price makes another decline, the 1800.00 level will return to the focus to be tested again.
Analysts expect a slower price movement in the New York session, but investors still need to be wary of market liquidity risks that could invite volatile gold price movements.
