Gold Hits New High
Gold hovered above $2,980 an ounce on Friday, a record high and poised for a weekly gain of more than 2%, boosted by risk aversion and rising expectations of a Federal Reserve interest rate cut.
In the latest escalation of U.S. President Donald Trump’s multi-front trade war, he warned of 200% tariffs on European wine and other spirits after the EU imposed a 50% tax on American whiskey exports.
RECOMMENDATIONS
- Buy if price moves to $2,993
- Sell if price moves to $2,979
Resistance Level 2: $3,008
Resistance Level 1: $3,001
Support Level 1: $2,972
Support Level 2: $2,965
Note:
This article is analysis only and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id