Gold Steady After Trump Imposes Tariffs
Gold steadied after a rally when President Donald Trump confirmed he would impose tariffs on U.S. trading partners, deepening concerns about the global economic outlook and fueling buying of the precious asset.
Bullion traded near $2,892 an ounce — following a 1.2% gain on Monday — as the U.S. leader said Mexico and Canada could not negotiate a suspension of tariffs set to take effect on Tuesday and then signed an order doubling levies on China to 20%.
Geopolitical events were also in the spotlight, after a senior defense official said the U.S. was halting all military aid to Ukraine.
RECOMMENDATIONS
- Buy if price moves to $2,893
- Sell if price moves to $2,879
Resistance Level 2: $2,907
Resistance Level 1: $2,900
Support Level 1: $2,872
Support Level 2: $2,865
Note:
This article is only analysis and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
