Gold Continues Gains Amid Trade War Fears
Gold prices rose on Friday (2/14) and were set for a seventh straight weekly gain as concerns over a potential global trade war grew after U.S. President Donald Trump pushed for tit-for-tat tariffs.
Spot gold rose 0.3% to $2,936.79 an ounce by 0828 GMT, bringing its weekly gain to 2.7%. Bullion hit a record high of $2,942.70 on Tuesday.
U.S. gold futures rose 0.5% to $2,961.40.
RECOMMENDATION
- Buy if price moves to $2,944
- Sell if price moves to $2,930
Resistance Level 2: $2,958
Resistance Level 1: $2,951
Support Level 1: $2,923
Support Level 2: $2,916
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