Gold trading maintained a flat movement for a second day on Wednesday yesterday which is expected to continue until the end of the week.
The United States (US) NFP employment data report for September will be published on Friday, which will be an important indicator for the central bank to set monetary policy.
The US dollar will receive a big impact with the market's reaction and the price of gold will also be affected.
The XAU/USD price chart which measures the value of gold against the US dollar sees the price remain hovering below the 1830.00 level which is the current resistance.
On yesterday's Wednesday trading, the 1830.00 level was tested again but the price only touched and failed to continue rising higher.
While the current support level for the price remains around 1817.00 with the price crossing above that level in the New York session.
Resuming trading today (Thursday), the price increase trying to reach 1830.00 saw a decline again in the European session and the price also hovered around the Moving Average 50 (MA50) line on the 1-hour time frame on the XAU/USD chart.
Investors are wary of the lack of a clearer indication of the direction of further gold price movements.
If the decline takes place past the support level of the past few days, the price of gold is seen to reach the 1800.00 level.
This would be the latest low since the last time gold prices traded around that was in December last year.
However, if the price of gold manages to rise above the resistance at 1830.00, this will be an early signal for the start of a bullish trend again for gold.
The increase will continue towards the previous concentration levels which were at 1855.00 or 1870.00 before.
