Gold Prices Down in Asian Trading Session
Gold prices fell in early Asian trading on Monday, extending the previous session's decline as a stronger US dollar weighed on the bullion metal and markets awaited the inauguration of US President Donald Trump.
However, gold last week posted a weekly gain of 0.5%, its third straight weekly gain. Concerns surrounding tariffs in the global economic landscape, along with potentially stubborn inflation and geopolitical uncertainty, will spur capital flows into gold as a safe haven asset.
RECOMMENDATION
- Buy if price moves to around $2.2699
- Sell if price moves to around $2.689
Resistance Level 2: $2.712
Resistance Level 1: $2.705
Support Level 1: $2.683
Support Level 2: $2.676
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in trading before making investment decisions.
Source: Newsmaker.id