GOLD Analysis – Gold Price Rises Again After Falling To $1,955 Level

<p>&nbsp;The situation of the movement of gold is getting more exciting when investors see the price start to show a fall yesterday before recovering again.</p><p><br /></p><p>Is this an early sign for the fall of gold to begin?</p><p><br /></p><p>Gold trading until the end of last week was positive with the trend of rising prices reaching the highest level in 5 months.</p><p><br /></p><p>It can be observed on the XAU/USD chart that measures the value of gold against the US dollar, the price has shown a decline to around 1955.00 in the European session yesterday.</p><p><br /></p><p>However, following the opening of the New York session, the price bounced back up towards the 1980.00 zone, which was seen as resistance tested from the beginning of the week.</p><p><br /></p><p>Price movement was slow in the Asian and European sessions today (Wednesday) with prices hovering below the 1980.00 zone while testing the Moving Average 50 (MA50) resistance level on the 1-hour time frame on the XAU/USD chart.</p><p><br /></p><p><br /></p><p>If the price fails to move beyond the 1980.00 zone, the decline is expected to happen again for the price towards the 1950.00 concentration zone like yesterday.</p><p><br /></p><p>If the breakthrough price ends up being lower, this will be a bearish signal for the fall in gold prices to occur. The initial target is to head towards around 1920.00.</p><p><br /></p><p>Meanwhile, the forecast for the price of gold to continue its previous rise, surpassing 1980.00 will expect the price to return to the concentration level of 2000.00.</p><p><br /></p><p>The latest high level has the potential to continue to be recorded by gold if it manages to maintain the bullish trend movement of last week.</p>