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