Gold Prices Drop After Trump's Tariff Threats on Colombia
Gold prices started the week with a decline in the Asian session on Monday and moved away from its highest level since late October, around $2,786 reached on Friday.
The US dollar (USD) strengthened again after President Donald Trump refrained from imposing threatened tariffs on Colombia as the two countries reached a deal on the repatriation of deported migrants.
Looking ahead, investors will await the US Central Bank meeting and the possibility that the Federal Reserve (Fed) will keep interest rates steady.
RECOMMENDATION
- Buy if price moves to $2,761
- Sell if price moves to $2,751
Resistance Level 2: $2,776
Resistance Level 1: $2,768
Support Level 1: $2,744
Support Level 2: $2,736
Note: This article is analysis only and not a definitive reference. Considering fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id