GOLD Analysis – It's Almost, A Little More Gold Price Will Reach $1,900!

<p>&nbsp;The movement of gold prices has already started briskly at the start of trading earlier this week, especially in the New York session yesterday when a new price record was set again.</p><p><br /></p><p>The continued strengthening of the US dollar is a factor pushing the price of gold down even in a risky market environment.</p><p><br /></p><p>Analysts see gold assets becoming less attractive as investors prefer to hold cash, seeing the US dollar more in demand.</p><p><br /></p><p>Therefore, it can be observed on the XAU/USD chart that measures the value of gold against the US dollar, the price continues to maintain a bearish movement pattern until the beginning of this week.</p><p><br /></p><p>Yesterday's decline has hit a new 6-week low around 1903.00 before bouncing back to around 1913.00.</p><p><br /></p><p>However, the price movement continues to remain below the Moving Average 50 (MA50) barrier level on the 1-hour time frame on the XAU/USD chart, indicating no change for the current bearish trend.</p><p><br /></p><p>Gold prices are expected to test the key zone at 1900.00 or possibly break even lower today.</p><p><br /></p><p><br /></p><p>If it continues to fall, the latest price target will move to the level of 1885.00 which will record the lowest level of gold since last March.</p><p><br /></p><p>But if the price of gold rises again, where will the target level be the focus?</p><p><br /></p><p>The initial rise will be towards the 1920.00 level to test the resistance after the price successfully overcomes the MA50 barrier level with the initial signal of a trend change.</p><p><br /></p><p>Next, the price will continue to rise towards the 1930.00 zone which was tested several times in the previous weeks.</p><p><br /></p><p>Changes in the current market sentiment as well as other factors need to be emphasized by investors to detect any risk on gold trading early.</p>