GOLD Analysis – NFP Expected to Make Gold Prices Shake?

<p>&nbsp;Gold trading on Thursday yesterday showed no significant movement on Thursday yesterday and still invited investors' anxiety with the risk at the end of the week.</p><p><br /></p><p>The focus is now on the publication of the United States (US) NFP employment data report in the New York session soon and is expected to trigger a drastic movement in gold prices.</p><p><br /></p><p>The strengthening of the US dollar will suppress the price of gold, while if the US dollar weakens, the price of gold has the potential to rise.</p><p><br /></p><p>Price movements are observed on the XAU/USD chart which measures the value of gold against the USD dollar over the past week.</p><p><br /></p><p>There have been several times the price tested the important zone of 2000.00 which became a resistance preventing the price from continuing to higher levels.</p><p><br /></p><p>Until Thursday yesterday, the price was flat above the 1980.00 zone until the Asian and European sessions today (Friday) with the weekly low level recorded on Wednesday reaching 1970.00.</p><p><br /></p><p><br /></p><p>If the price of gold rises in the trading sessions at the end of this week, the 2000.00 resistance zone will be tested again.</p><p><br /></p><p>It is not impossible for prices to continue to soar if the US dollar significantly depreciates sharply after the NFP report is published with the price target moving to 2050.00.</p><p><br /></p><p>Meanwhile, for the forecast for the downward movement of the price, falling below the 1980.00 level will expect the price to go to the RBS (resistance become support) zone at 1950.00.</p><p><br /></p><p>A break below would signal further declines in next week's trading for gold.</p>