Gold Moves in the $2794 area in the European session
Gold price is currently moving in the $2794 area after touching its ATH high yesterday at $2800.
Gold rose to a record high as investors flocked to safe haven assets after US President Donald Trump repeated his threat to impose tariffs on Mexico and Canada and also fears that his promises to cut taxes and overhaul immigration could erode US finances and reignite inflation. Federal Reserve Chairman Jerome Powell said on Wednesday that the US central bank is in a "wait and see" mode regarding the potential impact of the new administration's policies.
RECOMMENDATION
- Buy if the price moves to $2,799
- Sell if the price moves to $2,789
Resistance Level 2: $2,804
Resistance Level 1: $2,799
Support Level 1: $2,789
Support Level 2: $2,784
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