GOLD Analysis – Climb Attempt Fails, Gold Stuck at $1,930

<p>&nbsp;The price of gold on Tuesday's trading yesterday seemed to want to continue climbing higher, but was blocked at the level of $1,930.</p><p><br /></p><p>The US dollar currency, which affects the movement of gold, traded gloomy yesterday as the United States (US) market was also closed.</p><p><br /></p><p>Analysts expect the calm situation from the beginning of the week to change its pattern towards the end of the week with high-impact data to be published including the FOMC minutes report and US NFP jobs.</p><p><br /></p><p>Looking at the XAU/USD price chart, the price that surged past the 1920.00 level at the beginning of the week reached the 1930.00 level.</p><p><br /></p><p>On Tuesday yesterday, the price still did not manage to pass the 1930.00 level which became an obstacle when making the price.</p><p><br /></p><p>However, the price is seen to be still circulating above the support level of the Moving Average 50 (MA50) on the 1-hour time frame on the XAU/USD chart, which indicates that the price movement is still bullish.</p><p><br /></p><p><br /></p><p>The price movement today (Wednesday) until the European session is seen to drop slightly to the level of 1920.00 but bounce back.</p><p><br /></p><p>If the price increase succeeds in continuing past the 1930.00 resistance, the price will try to break through the 1940.00 level before heading to the previous concentration zone at 1950.00.</p><p><br /></p><p>However, if the price falls below the 1920.00 level, it will be an early signal for the price to extend its decline to the 1900.00 support zone that was reached last week.</p><p><br /></p><p>A drop lower after a clear bearish indication could push the price down to around 1870.00.</p>