Gold Rises Driven by Hopes for an End to War
Gold prices again recorded significant gains after President Donald Trump expressed hope that the war in the Middle East would soon end. On Wednesday (April 1), the spot gold price surpassed $4,700 per ounce, driven by this optimism, while global stocks rallied and the US dollar weakened.
This increase occurred despite a nearly 12% drop in gold prices in March, recording its worst performance since October 2008. However, the decline in gold prices was met with buying by investors, indicating that market confidence in this safe-haven asset remains strong. (gn)
Gold Price at the Time of Release of This Analysis Was at $4,746
- Buy if the price moves to $4,755
- Sell if the price moves to $4,733
Resistance 2: $4,785
Resistance 1: $4,763
Support 1: $4,719
Support 2: $4,697
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider the impact of fundamental and technical developments on trading before making any investment decisions.
Source: Newsmaker.id