Gold Tends to be Stable Ahead of Trump Speech
Prices were stable in the positive area on Wednesday (2/18) as concerns about economic growth due to uncertainty surrounding US President Donald Trump's tariff plans drove safe haven flows into gold bullion.
Early in the morning, the US President gave a speech promising to impose tariffs on imports of cars, semiconductors and pharmaceuticals of around 25% on Tuesday night, with an announcement to be made as early as April 2. However, there is speculation that the threat is primarily used as a negotiating tool, with US tariff policy increasingly chaotic due to delays and exceptions.
RECOMMENDATION
- Buy if price moves to $2,936
- Sell if price moves to $2,926
Resistance Level 2: $2,942
Resistance Level 1: $2,936
Support Level 1: $2,926
Support Level 2: $2,920
Note:
This article is only an analysis and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id