Will Gold Form ATH Tonight?
Gold prices continued to show their strength in the European trading session on Thursday (3/13).
The appeal of gold as a safe haven asset that is growing rapidly may surge to a record high of $3,500 per ounce during the third quarter, according to Macquarie Group analysts.
This is still supported by uncertainty surrounding geopolitics and US President Donald Trump's tariff policies. The worsening US budget outlook suggests inflation could increase, which will benefit gold as a hedge, according to Macquarie.
RECOMMENDATION
- Buy if the price moves to $2,947
- Sell if the price moves to $2,937
Resistance Level 2: $2,952
Resistance Level 1: $2,947
Support Level 1: $2,937
Support Level 2: $2,932
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