- Gold moves in a small range, without moving away from $1,930.
- Volatility is expected to increase as the days go by.
- Market is focusing on the decision of central banks.
The Prayed it is trading unchanged from Monday, staying within the $1,930 area. The yellow metal reached as high as $1,934 in the Asian session and then bottomed out at $1,920 in European hours.
Last week’s jump to $1,950 was followed by a decline, which brought XAU/USD back to the $1,930 zonewhich still looks like a gravity center.
To the upside, a confirmation above $1,935 could encourage more buying with next resistance at $1,942 and then the $1,950 zone. In the opposite direction, heThe area of ​​$1,920 continues to be the great support to take into account. If there is a break with confirmation, more weakness is expected ahead, which leads the price to approach $1,900, with intermediate support at $1,910.
Key week begins
Despite the quiet start, a busy week is expected with several key events ahead. The economic calendar for Monday is calm. It was known that the German economy contracted 0.2% in the fourth quarter and an improvement in the consumer confidence indicators of the Eurozone. On Tuesday, among several reports, the preliminary inflation for February from Germany stands out. On Wednesday it will be the decision of the Federal Reserve and on Thursday the Bank of England and the European Central Bank.
What central banks do and say will be key to the market and can have a major impact on bonds, which makes gold an asset whose price can be exposed to high volatility.
technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
