GOLD Analysis – Gold Hits $1,900, Investors Await Important Signals!

<p>&nbsp;Gold commodity trading was mixed in the New York session yesterday as the US dollar traded somewhat mixed before strengthening again at the end of the New York session.</p><p><br /></p><p>The movement of the US dollar was influenced by the economic data published yesterday with the United States (US) retail sales data for July recording an increase in numbers that exceeded forecasts.</p><p><br /></p><p>It can be observed on the XAU/USD price chart that measures the value of gold against the US dollar, the price has plunged to the concentration level expected by investors which is 1900.00.</p><p><br /></p><p>The price was pushed lower to reach 1897.00 before bouncing back up to the 1910.00 level.</p><p><br /></p><p>The price was seen testing the Moving Average 50 (MA50) barrier level on the 1-hour time frame on the XAU/USD chart but failed to continue rising higher.</p><p><br /></p><p>Towards the end of the New York session, the price retreated back down again tracking the 1900.00 zone.</p><p><br /></p><p>Continuing trading today (Wednesday), prices slightly increased in the Asian session, but the MA50 barrier remained blocking price progress.</p><p><br /></p><p><br /></p><p>Investors will see if the price is able to plunge lower and break through the 1900.00 zone which is now a support for the price.</p><p><br /></p><p>If the price manages to jump above the MA50 barrier, the gold price increase can go back to the previous level of 1920.00.</p><p><br /></p><p>Next, the SBR (support becomes resistance) zone at 1930.00 will be the focus of the next price increase.</p><p><br /></p><p>On the other hand, if the price breaks through the support of 1900.00, this will be a bad sign for gold and investors should be prepared to witness a more severe fall in prices.</p><p><br /></p><p>The decline will continue towards the level of 1885.00 or beyond at 1870.00 which will be the next price concentration levels.</p>