Gold extends gains above $2,850
Gold is still in positive territory due to the influence of the trade war. While Trump will announce reciprocal tariffs on many countries next week.
The People's Bank of China has increased its gold reserves for the third month in January.
The precious metal moved up as rising trade tensions prompted investors to seek protection in safe haven assets.
As of this news release, the price of gold is at $2,870
RECOMMENDATION
- Buy if the price moves to $2,865
- Sell if the price moves to $2,875
Resistance Level 2: $2,890
Resistance Level 1: $2,880
Support Level 1: $2,860
Support Level 2: $2,850
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