GOLD Analysis – Gold Falls Below $1,900 For The First Time Since March!

<p>&nbsp;Investors are not happy to sit and watch the movement of gold prices in the New York session yesterday which was quite lively following the market's reaction to the published data.</p><p><br /></p><p>Following the movement of gold influenced by the US dollar, the economic data of the United States (US) published in the New York session has had an impact.</p><p><br /></p><p>The final reading of US economic growth for the first quarter recorded a surprising jump in numbers, giving a positive reaction to the movement of the US dollar in the market.</p><p><br /></p><p>Looking at the XAU/USD price chart which measures the value of gold against the US dollar, the price has plunged as the initial reaction to the release of data supporting the strengthening of the US dollar.</p><p><br /></p><p>Gold prices fell to around 1893.00, marking the first time gold has fallen below 1900.00 since mid-March.</p><p><br /></p><p>However, the gold price did not wait long to bounce back up to the 1913.00 level and was seen testing the Moving Average 50 (MA50) barrier on the 1-hour time frame on the XAU/USD chart.</p><p><br /></p><p>Unfortunately, the price failed to clear that barrier and flattened slowly to close the trade at the end of the New York session around 1908.00.</p><p><br /></p><p><br /></p><p>The price remained moving slowly around that continuing trading in the Asian and European sessions today (Friday).</p><p><br /></p><p>If the price of gold continues to decline in these final sessions, the 1900.00 level will try to be surpassed once again to record the latest low again.</p><p><br /></p><p>The next target is heading up to around 1800.00 which is also an important price focus level.</p><p><br /></p><p>On the other hand, if there is a surge at the close of the week, the price will be targeted to head back around 1920.00.</p><p><br /></p><p>For continued higher gains, the zone around 1932.00 which was the previous resistance is the next focus.</p>