Gold Corrected in Asian Morning Trading Session
Gold prices corrected to the level of US$ 3,327, but still moved steadily for trading on Tuesday (29/4). The yellow metal moved down amid a moderate rebound in the US Dollar (USD) and easing tensions between the United States and China.
Gold prices weakened ahead of US economic data to be released this week, which will provide guidance on the impact of US President Donald Trump's import tariff decision that triggered the trade war.
China exempted some US imports from 125% tariffs on Friday, raising hopes that the trade war between the US and China was nearing an end, although China quickly dismissed US President Donald Trump's statement that negotiations between the two countries were ongoing.
RECOMMENDATION
- Buy if price moves to $3,332
- Sell if price moves to $3,322
Resistance Level 2: $3,343
Resistance Level 1: $3,337
Support Level 1: $3,317
Support Level 2: $3,311
Disclaimer:
This article is only an analysis and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id