Gold Regains Strength In Europe
Gold rose on Friday (2/7) and was on track for a sixth straight weekly gain on trade-war-fueled safe-haven demand, while attention turned to the upcoming U.S. nonfarm payrolls report for cues on the Federal Reserve’s interest rate path.
Spot gold prices rose 0.4% The new administration appears committed to using tariffs, which cast a dark shadow over the outlook for global economic growth, further boosting gold’s safe-haven appeal, said Ricardo Evangelista, senior analyst at ActivTrades.
RECOMMENDATIONS
- Buy if price moves to $2,872
- Sell if price moves to $2,862
Resistance Level 2: $2,886
Resistance Level 1: $2,876
Support Level 1: $2,855
Support Level 2: $2,848
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