Gold Prices Not Far From ATH
Gold is stable at a positive level to start the Asian trading session on Wednesday (5/2). This is supported by the opening attack of the US-China trade war triggering demand for safe haven assets.
A weaker dollar makes gold cheaper for many buyers with losses increasing after the US jobs report showed a gradual slowdown in the labor market. China's response has been relatively calm compared to Trump's first term, when Beijing retaliated with tariffs that were almost equivalent to the US, but there are still many concerns about the impact on the world's two largest economies.
RECOMMENDATION
- Buy if the price moves to $2851
- Sell if the price moves to $2841
Resistance Level 2: $2856
Resistance Level 1: $2851
Support Level 1: $2841
Support Level 2: $2836
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