GOLD Analysis – Is There a Warning for Gold Prices to Fall This Week?

<p>&nbsp;The movement of gold prices was seen to be flat at the beginning of the trading week yesterday, a little calmed down after the price surge that continued until the end of last week.</p><p><br /></p><p>Last Friday saw the price of gold reach a 5-month high as gold continues to gain traction as a safe-haven in the ongoing conflict of war.</p><p><br /></p><p>If observed on the XAU/USD chart which measures the value of gold against the US dollar, the price has almost touched the 2000.00 level on the rise until the end of last week.</p><p><br /></p><p>But at the opening of trading early yesterday, the price moved more flat around the 1980.00 zone and started to make investors cautious.</p><p><br /></p><p>This is due to the price movement that began to be below the Moving Average 50 (MA50) barrier line on the 1-hour time frame on the XAU/USD chart, giving an early signal for a change to a bearish trend for gold.</p><p><br /></p><p>Going into the European session this evening (Tuesday), the price is still flat below the 1980.00 zone and testing the MA50 barrier.</p><p><br /></p><p><br /></p><p>If the price plunge occurs, the drop is expected to go to the 1960.00-1950.00 zone and the price reaction around that will be observed.</p><p><br /></p><p>The bearish trend will be more obvious if the price continues to decline past the zone and is expected to go to around 1920.00 again.</p><p><br /></p><p>However, if the price continues to rise above the 1980.00 zone, the target will be focused on the 2000.00 level to be tested.</p><p><br /></p><p>It is not impossible for the price of transparent gold to break above 2000.00 this week to continue hunting for the latest high level record.</p>