Gold price sticks to modest gains above $2,700
Gold risks appear skewed to the upside ahead of Trump’s inauguration, as investors brace for policy changes that could have economic implications, said Pepperstone research strategists.
Trump’s executive orders are likely to dictate gold’s direction in the coming weeks, he added. Gold is already up 3% YTD, above $2,700, amid political and trade uncertainty.
If Trump imposes tariffs that disrupt trade flows and increase economic volatility, gold’s role as a safe haven asset will be strengthened.
RECOMMENDATIONS
- Buy if price moves to $2,710
- Sell if price moves to $2,700
Resistance Level 2: $2,724
Resistance Level 1: $2,717
Support Level 1: $2,693
Support Level 2: $2,686
DISCLAIMER
Note: 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