Gold Rises Slightly at the Start of the Week
Gold edged higher in early Asian trading, supported by the prospect of a U.S. recession that could boost the precious metal’s appeal as a safe haven.
In an interview with Fox News on Sunday, President Trump refused to rule out a U.S. recession this year. “Traders and investors are reacting to the sharp and sudden decline in U.S. economic data,” Ole S. Hansen of Saxo Bank said in a research report.
RECOMMENDATIONS
- Buy if price moves to $2,923
- Sell if price moves to $2,909
Resistance Level 2: $2,938
Resistance Level 1: $2,930
Support Level 1: $2,900
Support Level 2: $2,892
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