Gold Slightly Weakens In Asian Session
Gold prices rose amid a weaker US Dollar (USD) as the trade war between the United States (US), Canada, Mexico, and China escalated with new tariffs coming into effect on Tuesday (05/03).
Therefore, the decline in the USD supported the precious metal. XAU/USD was trading at $2,918, up 0.62%.
Market sentiment remained gloomy after 25% tariffs on Canada and Mexico and an additional 10% duty on China came into effect around midnight.
RECOMMENDATIONS
- Buy if price moves to $2,913
- Sell if price moves to $2,899
Resistance Level 2: $2,927
Resistance Level 1: $2,920
Support Level 1: $2,892
Support Level 2: $2,885
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