GOLD Analysis – Okay! The price of gold has risen through $1,920

<p>&nbsp;Not giving in, the price of gold rose again at the beginning of the week!</p><p><br /></p><p>Not continuing to fall lower as it happened last Friday, gold trading on Monday yesterday saw its price rise again which has crossed the important level at $1,920.</p><p><br /></p><p>While the Jackson Hole symposium last weekend has caused gold prices to fall following a strong US dollar, the situation was different at the beginning of this week when the US dollar was seen as lifeless.</p><p><br /></p><p>Gold investors were relieved to see the positive movement in the price, but remained prepared for any possibility ahead of a series of important economic data to be published this week, especially the US NFP jobs report.</p><p><br /></p><p>On the XAU/USD chart which measures the value of gold against the US dollar, the price rose again in the New York session yesterday, breaking through 1920.00 but closed trading around that at the end of the session.</p><p><br /></p><p>Attempts to increase prices continued in the Asian session today (Tuesday) to the level of 1926.00, but slightly retreated again in the European session.</p><p><br /></p><p>As long as the price moves above the 1920.00 zone and moves above the Moving Average 50 (MA50) support level on the 1-hour time frame on the XAU/USD chart, investors can still expect gold prices to continue moving higher.</p><p><br /></p><p><br /></p><p>The 1930.00 zone is seen to be the next focus if the bullishness continues for that important zone to be tested.</p><p><br /></p><p>If the price remains energetic continuing the surge, the high level at 1950.00 is likely to be reached.</p><p><br /></p><p>On the other hand, if the price plunges back below the 1920.00 zone and breaks through the MA50 support, this will give investors an early warning of a fall in gold prices.</p><p><br /></p><p>If it happens, the RBS zone (resistance becomes support) at 1900.00 will be observed as a target with the expectation that the price will react when it reaches its surroundings.</p>