Gold Held Back by Trade War Risks and Ceasefire
Gold edged up early in the Asian session, supported by concerns about a global economic slowdown that could be triggered by tariffs.
President Trump on Tuesday threatened to double tariffs on Canadian metals, but later backed off the threat after the province of Ontario dropped a surcharge on electricity bound for the U.S.
There are growing concerns about a potential economic slowdown in the U.S., FlowCommunity’s Ruben Ferreira said in an email.
RECOMMENDATIONS
- Buy if price moves to $2.923
- Sell if price moves to $2.909
Resistance Level 2: $2.937
Resistance Level 1: $2.930
Support Level 1: $2.895
Support Level 2: $2.902
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