The price of gold remains on the way to the $1800 level

<div><img width="1200" height="800" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/08/Gold.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="gold" decoding="async" loading="lazy" /></div><h1><b>The price of gold remains on the way to the $1800 level</b></h1>
<ul>
<li aria-level="1">In the first three weeks of September, the price of gold was in the range of $1,900-$1,950.</li>
</ul>
<h2><b>Gold chart analysis</b></h2>
<p>Today’s chart review will be on a four-hour time frame in order to give us a broader overview of gold price movements in the previous period, and based on that, we will analyze the future potential trend.</p>
<p>In the first three weeks of September, the price of gold was in the range of $1,900-$1,950. Failure to break above $1950 puts more pressure on the price at $1900, which led to a break below and a drop to the $1850 level in the last week of September.</p>
<p>Looking at the EMA50 <a href="https://www.financebrokerage.com/moving-average-envelopes-how-to-use/">moving average</a>, we see how, at the beginning of the last week in September, the price of gold breaks away from the EMA50 and drops to the $1900 level. The breakout below was very fast and strong, and the price already fell to the $1860 level in a couple of days. There, we see an attempt to stop further decline and resistance to the $1880 level, where we encounter new resistance and start another pullback.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-231983 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/8pbM2rdI-1024×620.jpg" alt="Gold chart analysis" width="1024" height="620" /></p>
<h2><strong>The price of Gold since the beginning of October</strong></h2>
<p>The beginning of October only continued with further retreats, and the price of gold formed a lower low at the $1810 level. Yesterday, there was a weakening of the dollar, which had the effect of gold recovering slightly to the $1,834 level. In the next week, we could expect to see a rise to the $1850 level, and there, we would encounter the EMA50 moving average.</p>
<p>A breakout of the gold price above would increase optimism and greatly ease the pressure on the price to continue its further recovery. Potential higher targets are $1875 and $1900 levels. If we stay below the $1850 level, the price of gold remains under pressure to go down to the $1800 level. The last time we were there was in December last year. With the falling price of gold below this level, we enter the next zone of $1750-$1800.</p>
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