Gold trading at the beginning of the week yesterday was flat due to the gloomy movement of the US dollar currency following the public holiday in the United States (US) yesterday.
Investors are now observing some issues that are hovering in the market and can influence the change in sentiment towards more risk.
This will also affect the US dollar currency and also the fluctuation of gold value.
Tensions between the US and China are still being monitored by investors in addition to concerns over North Korea's missile launch towards the Sea of Japan.
Additionally, US President Joe Biden unexpectedly reportedly visited Kyiv and met Ukrainian President Volodymyr Zelensky to offer support after China allegedly provided military aid to Russia.
At the moment the market still hasn't shown any significant reaction, but at any time the calm situation can change.
On the XAU/USD chart which measures the value of gold against the US dollar, the price was seen flat throughout the three sessions yesterday after the increase at the end of last week has passed the 1830.00 level.
If the price remains above the Moving Average 50 (MA50) support level on the 1-hour time frame on the XAU/USD chart, the 1870.00 zone will return to be the focus to be tested after the successful continuation of the rise.
Passing that resistance, the price will next target an increase to the 1900.00 level.
However, if the price of gold falls lower below the 1830.00 level, the decline will continue to the latest 8-week low.
For a lower drop, the price is seen to head towards the focus support zone at 1800.00.
