Gold Weakens Ahead of US Open
Gold (XAU/USD) prices fell to around $2610 ahead of the US session on Monday (6/1). Since then, gold prices have started to weaken amidst persistently high US yields.
The knee-jerk reaction increased after headlines emerged that President-elect Donald Trump might consider possibly imposing universal tariffs on essential imports.
Gold prices at the time of this news release were -0.8% or at $2619/Toz.
RECOMMENDATIONS
- Buy if the price moves to around $2626
- Sell if the price moves to around $2614
Resistance Level 2: $2638
Resistance Level 1: $2631
Support Level 1: $2607
Support Level 2: $2600
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in transactions before making investment decisions.
Source: Newsmaker