Gold pushes higher on simmering Russia-Ukraine tensions
Gold (XAU/USD) recovers after a weak start to trade above $2,640s during the US session on Wednesday as geopolitical tensions in the Ukraine theatre of war ratchet up and drive fresh safe-haven flows into the precious metal.
Gold had a weak start due mostly to the effect of a stronger US Dollar (USD), and since Gold is mainly priced and traded in USD, this automatically has the effect of lowering its price, all other things being equal.
Recommendations:
- Buy if the price moves at least at the $2655 level
- Sell if the price moves at least around the $2645 level
Resistance Level 2: $2668
Resistance Level 1: $2661
Support Level 1: $2639
Support Level 2: $2632
DISCLAIMER
Note: This article is only an analysis and not a definite reference. Keep paying attention to developments in fundamental and technical aspects in transactions before making investment decisions.
Source: newsmaker.id