Gold Down as Investors Digest Tariffs
Gold prices fell on Thursday as investors digested the latest developments surrounding tariffs and their impact on the U.S. economy and the Federal Reserve’s decision. There was more movement on the tariff front on Wednesday, with President Donald Trump delaying new levies imposed on Mexico and Canada by automakers for a month.
The move sent yields on Treasury bonds sliding to their lowest levels this year amid growing investor confidence that a trade-related slowdown in growth will prompt the Fed to cut interest rates several times in 2025. Lower borrowing costs and falling yields tend to benefit gold, since it doesn’t pay interest.
RECOMMENDATION
- Buy if price moves to $2,907
- Sell if price moves to $2,897
Resistance Level 2: $2,921
Resistance Level 1: $2,914
Support Level 1: $2,890
Support Level 2: $2,883
Note:
This article is only an analysis and not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
