Gold trading is seen as excellent heading into the end of this week due to increased investor attraction in an increasingly risky market environment.
Regarding the war issue, Russia reportedly retaliated on Thursday in response to the attack launched by Ukraine last Tuesday.
The current situation shows no signs of the war abating, and is now increasing the global threat as President Vladimir Putin warns of the actions of the United States (US) and Britain that allowed Ukraine to use their weapons.
The conflict, which is expected to continue, will give an advantage to gold trading, which is in demand as a safe-haven asset.
Observing the price movement on the XAU/USD chart, which measures the value of gold against the US dollar, the price shows an upward pattern throughout this week starting from the first session opened on Monday.
As of yesterday's New York session, the price increase has reached the focus level at 2670.00, but did not stop there when the increase continued today (Friday).
There is no change in the price signal which remains bullish moving above the Moving Average 50 (MA50) support line on the 1-hour time frame on the XAU/USD chart.
Until the European session, the price is still showing an upward trend towards around 2700.00 with expectations for the price to reach higher after passing that level.
With the bullish movement maintained, the gold price is able to regain previous focus levels such as 2730.00 and then 2770.00.
However, if the price drops below the 2670.00 level in the final trading sessions at the end of this week, investors will be more cautious.
A lower decline may occur for the price to return to the important zone at 2600.00.
