Gold trading was volatile at the opening early yesterday when there were issues affecting the US dollar.
The issue was related to conflicting reports regarding Donald Trump's tariff plan which was said to be focused on critical sectors only.
However, Trump responded on his Truth Social platform that the news was incorrect.
The significant impact of the US dollar also caused gold movements to be turbulent in several sessions yesterday.
The price fluctuations that occurred on the XAU/USD chart which measures the value of gold against the US dollar can be seen.
There was a price surge but was limited below the 2650.00 level in addition to the price testing the Moving Average 50 (MA50) barrier line on the 1-hour time frame on the chart and failing to pass it.
The lowest daily price drop was recorded at around 2615.00 but the price rebounded and finally closed the New York session trading around 2635.00.
Resuming trading today (Tuesday), the price rose slowly and once again tested the MA50 barrier that investors are watching for the latest direction for the gold price.
If a higher increase is shown after clearly surpassing the MA50 and the 2650.00 level, the price will head towards the 2670.00 resistance.
However, if the price plunges down again, the level reached yesterday is likely to be surpassed.
Next, the price will level off again at the previous support zone at 2600.00.
