Gold Holds Steady In Positive Area
Gold (XAU/USD) maintained its bid tone around the $2,900 round-figure mark through the first half of the European session on Monday, albeit lacked any follow-through and remained below its all-time peaks touched last week. Investors remained concerned that US President Donald Trump’s tariffs could trigger a global trade war. This turned out to be a key factor that continued to benefit the bullion as a safe-haven asset.
Meanwhile, growing market acceptance that the Federal Reserve (Fed) will stick to its hawkish stance and keep interest rates on hold for an extended period helped revive demand for the US Dollar (USD).
Additionally, optimism over talks between the US and Russia aimed at ending the war in Ukraine, along with a positive risk tone, kept a lid on any further appreciating move for Gold.
RECOMMENDATION
- Buy if price moves to $2,906
- Sell if price moves to $2,896
Resistance Level 2: $2,920
Resistance Level 1: $2,913
Support Level 1: $2,889
Support Level 2: $2,882
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
