GOLD Analysis – Saturated Gold Around $2,030 Expect Price Acceleration

<p>&nbsp;The movement of gold prices at the beginning of the week yesterday was seen to stabilize horizontally above the $2,020 zone and did not continue to fall lower after the price slipped slightly at the close of last week.</p><p><br /></p><p>Commodity market analysts still see risks for a fall in gold prices this week even as optimistic investors put expectations for further recovery following last week's price surge.</p><p><br /></p><p>On the XAU/USD chart which measures the value of gold against the US dollar, investors are watching the movement that took place at the early opening of yesterday's week after a decline in the last session of last week reaching around 2016.00.</p><p><br /></p><p>The price slightly increased in the New York session yesterday to the 2030.00 level, but was seen to be hindered by the Moving Average 50 (MA50) line on the 1-hour time frame on the chart which still shows a bearish signal for the price.</p><p><br /></p><p>The price movement that continues today (Tuesday) remains flat below the MA50 barrier until the European session.</p><p><br /></p><p>If the price continues to decline below the 2020.00 level, it will increase the tendency for the expected decline to occur towards the 2000.00 level.</p><p><br /></p><p><br /></p><p>A drop below the 2000.00 level will warn of danger for gold which can sink back to the 1980.00 base like the previous week.</p><p><br /></p><p>But if the price manages to jump stronger after this, the initial challenge the price will have to face is in the 2050.00 zone.</p><p><br /></p><p>If the resistance is successfully passed, the price increase can continue with the potential to reach 2070.00.</p>