Gold Rises as Trump Inauguration Eases Concerns
Gold prices rose early in Asia on Tuesday (1/21), following President Donald Trump’s inauguration on Monday and his statement to refrain from imposing massive trade tariffs on China and other countries on his first day in office, which weakened the U.S. dollar.
Fears of a full-blown trade war eased somewhat, with Trump instead ordering his administration to address unfair trade practices globally and investigate whether Beijing has complied with agreements signed during his first term.
RECOMMENDATIONS
- Buy if price moves to $2,724
- Sell if price moves to $2,714
Resistance Level 2: $2,737
Resistance Level 1: $2,730
Support Level 1: $2,708
Support Level 2: $2,701
DISCLAIMER
Note: This article is only an analysis and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id