Gold commodity trading this week was seen to be flat with only slight changes in value throughout the week.
On the XAU/USD price chart which measures the value of gold versus the US dollar, prices remain flat with the resistance level at 19500.00 tested last week still a barrier to price increases.
Meanwhile, the price decline also only moved around the 1915.00 level which became the current support level for prices.
Gold fails to provide clearer direction to the bulls while the factors influencing it continue to be monitored.
The sentiment of the Russia-Ukraine war and the tensions that have ignited with the United States (US) and also Europe still signal a risky market for investors.
However, the situation that led to the pull of the safe-haven assets, however, failed to boost gold prices following the strengthening of the US dollar.
Therefore, the price has continued its flat movement throughout the week which has continued since last week.
If the gold price hike is successful, the resistance level at 1950.00 awaits to be tested after last week's attempted gains failed to break higher.
If the barrier is breached, the SBR zone (support becomes resistance) 1970.00 will also be a target for the price to test.
On the other hand, if the price shows a decline, the initial support level at 1900.00 will be the focus.
The downside that managed to continue is seen as breaking into the around 1870.00 zone for a fresh 7-week low.