No surprises for gold trading which remains flat, but adds to investors' anxiety.
Still focused on the development of trade negotiations between the United States (US) and China which took place in London starting from Monday.
US officials reported that the negotiations were going well, but there was no clear result after the negotiations lasted for 2 days.
Positive negotiation sentiment will drive the decline in the value of gold as the attraction to gold as a safe-haven asset is fading.
The price movement of gold is flat awaiting clearer signals in the market to continue trading towards the end of this week.
Examining the XAU/USD chart which measures the value of gold against the US dollar, the price is still flat above the 3300.00 level with limited price increases below the 3350.00 level.
The price movement moving above the Moving Average 59 (MA50) support line gives a bullish signal for gold, but investors are waiting for clearer clues.
If the price surges strongly above 3350.00, the price increase is expected to continue back towards the target of 3400.00 which was tested last week.
Breaking through this resistance could push gold prices higher to reach the previous ATH record of 3500.00.
However, it would not be a surprise if investors see gold prices plunge lower after falling below 3300.00.
If the price decline continues, it is seen that it will approach previous focus levels such as 3200.00 and 3150.00.
