Gold Prices Continue to Rise in Daily Trading
Gold prices rose again in the Asian session on Monday in response to US President Donald Trump's plan to impose a new 25% tariff on all steel and aluminum imports into the US. The announcement sparked concerns about a global trade war and benefited the precious metal, which is a safe haven. In addition, expectations that Trump's protectionist policies will rekindle inflation turned out to be another factor supporting the commodity's status as a hedge against rising prices.
RECOMMENDATION
- Buy if the price moves to $2,897
- Sell if the price moves to $2,887
Resistance Level 2: $2,911
Resistance Level 1: $2,904
Support Level 1: $2,880
Support Level 2: $2,873
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