Gold prices dip as FOMC minutes awaited
Gold (XAU/USD) attracted some sellers during the Asian session on Wednesday and gave up some of the previous day’s strong move back to near record highs. The decline could be attributed to some profit-taking amid a generally positive risk tone, which tends to dampen demand for safe-haven bullion. However, uncertainty surrounding US President Donald Trump’s tariff plans might continue to act as a tailwind for the precious metal.
As of this writing, Gold prices are at $2,932
RECOMMENDATION
- Buy if price moves to $2,925
- Sell if price moves to $2,940
Resistance Level 2: $2,955
Resistance Level 1: $2,945
Support Level 1: $2,920
Support Level 2: $2,905
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