Gold Steady in Positive Area
Gold (XAU/USD) prices strengthened by nearly 0.50% on Tuesday (2/18) in early European trading, with the precious metal trading around $2,910 at the time of writing. US yields are playing catch-up after the US Presidents Day holiday on Monday. However, Gold is favored by market players as a safe haven against tariffs and geopolitical uncertainty.
Meanwhile, Philadelphia Federal Reserve Bank (Fed) President Patrick Harker advocated on Monday night for the central bank to keep interest rates unchanged. He pointed out that the latest inflation report and gauges do not capture the current economic changes.
RECOMMENDATION
- Buy if price moves to $2,917
- Sell if price moves to $2,903
Resistance Level 2: $2,931
Resistance Level 1: $2,924
Support Level 1: $2,896
Support Level 2: $2,889
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
