Gold Moves Positive Ahead of US Unemployment Claims
Gold (XAU/USD) prices held on to modest intraday gains through the first half of the European session on Thursday (2/13), albeit lacked follow-through and remained below the record highs touched earlier this week.
Investors remain concerned that US President Donald Trump’s trade tariffs could trigger a global trade war, which continued to act as a tailwind for the safe-haven bullion.
Adding to this, a fresh leg down in the US Treasury bond yields dragged the US Dollar (USD) to a weekly low and turned out to be another factor that benefitted the commodity.
RECOMMENDATION
- Buy if price moves to $2,922
- Sell if price moves to $2,908
Resistance Level 2: $2,929
Resistance Level 1: $2,936
Support Level 1: $2,901
Support Level 2: $2,894
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