Gold is seen moving weakly towards this weekend's trade with market sentiment assessed still volatile.
Apart from that, investors are also seen to be wary of the US dollar which also affects the current gold movement, ahead of the release of inflation data tonight which is expected to record an increased reading for May.
Meanwhile, gold movement was also seen to decline after the results of the European Central Bank (ECB) meeting in the New York session yesterday, where the European central bank kept interest rates unchanged.
Global markets, meanwhile, showed a slower performance over the weekend with the US stock index trading more gloomily in the New York session.
In yesterday's Asian session, the price movement on the XAU/USD chart which measures the value of gold against the US dollar has made a decline of around 150 pips and then made a slight increase before continuing to decline until continuing in today's Asian session (Friday).
If gold continues to decline lower today, the price is seen to test the support level of 1830.00 which is in the RBS zone (resistance become support).
The continued decline in gold prices beyond the zone will record the latest 3 -week lows with the target being towards the 1810.00 or 1800.00 zone.
On the other hand, if gold changes its bullish pattern beyond 1850.00, the price is seen to be testing the 1870.00 resistance zone which was also tested at the end of last week.
If the price manages to break the resistance zone, the target for a higher rise is at 1900.00 for the latest 5 -week high.
