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Indonesia News Portal for Traders | Financial & Business Updates

5 February 2025 17:42  |

Gold Continues to Rise amid US-China Trade War

Gold prices jumped 1% on Wednesday, extending a record rally, boosted by safe-haven demand amid the escalating US-China trade war, while the spotlight was also on payrolls data from the world’s largest economy.

Spot gold was up 0.9% at $2,867.59 per ounce by 0906 GMT, after rising 1% to a record high of $2,869.68 earlier in the session. US gold futures were up 0.7% at $2,895.

 

RECOMMENDATION

- Buy if price moves to $2,873

- Sell if price moves to $2,868

 

Resistance Level 2: $2,892

Resistance Level 1: $2,885

 

Support Level 1: $2,861

Support Level 2: $2,854

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

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