Gold trading is still positive at the end of this week? Or have started to give warning signs to investors?
In yesterday's Thursday trading, price gains were seen above the $2,030 level as the US dollar moved weakly in the European session.
However, after the situation changed in the next session, the strengthening of the US dollar has pushed the price of gold to fall back to a lower level than the opening of the previous session.
The price movement that occurs can be examined on the XAU/USD chart which measures the value of gold against the US dollar.
At first the price increase managed to reach a height of around 2035.00 before the price retreated back down to the 2030.00 zone.
In the New York session, the price has fallen to 2020.00 near the level that was also tested the previous day.
The slow increase in price happened again until it continued in the Asian session this morning (Friday), but the price failed to break the Moving Average 50 (MA50) barrier on the 1-hour time frame on the XAU/USD chart as it approached the 2030.00 zone.
A fairly significant decline was displayed at the opening of the European session and the price has already surpassed the level reached yesterday.
This bearish signal will give the expectation for the price to make a decline towards the 2000.00 concentration zone.
However, if the price is able to rise again past the MA50 barrier and the 2030.00 zone, the previous bullish movement can still continue.
Then the increase will go to the concentration level at 2050.00.
