Monday Morning Gold Price Jumps
Gold prices touched the $2876 area at the start of the Asian session on Monday (3/3) after closing at $2856. Resurgent concerns about economic health have raised market expectations for a Federal Reserve interest rate cut, which also adds to the appeal of gold bullion as an asset that does not provide yields.
Meanwhile, investors are considering the economic outlook as US President Donald Trump prepares to impose import levies on major US trading partners.
RECOMMENDATION
- Buy if the price moves to $2,864
- Sell if the price moves to $2,874
Resistance Level 2: $2,879
Resistance Level 1: $2,874
Support Level 1: $2,864
Support Level 2: $2,859
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