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Indonesia News Portal for Traders | Financial & Business Updates

13 March 2025 07:34  |

Gold Rises on Weak US Inflation Data

Gold edged up in early Asian trading. The European Union and Canada announced retaliatory tariffs against the US on Wednesday, further raising the prospect of a global trade war after the US imposed levies on global steel and aluminium imports.

Gold rallied to bring it back near a record, after weaker-than-expected US inflation supported further Federal Reserve monetary easing this year, while an escalating global trade war prompted safe-haven buying.

RECOMMENDATIONS

- Buy if price moves to $2,945

- Sell if price moves to $2,931

 

Resistance Level 2: $2,962

Resistance Level 1: $2,953

 

Support Level 1: $2,923

Support Level 2: $2,914

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

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