Gold Steady After US Consumer Confidence Drops
Gold prices were steady on Wednesday (3/26) near a record high after U.S. consumer confidence fell sharply, signaling trouble for the U.S. economy.
Consumer confidence fell to a four-year low in March on concerns about escalating trade wars and higher prices, adding to gold's appeal as a safe haven asset.
Meanwhile, the U.S. announced that Russia and Ukraine had reached a ceasefire deal in the Black Sea. The Kremlin confirmed the statement, but said it was conditional on Washington lifting sanctions on banks and companies involved in agricultural exports.
RECOMMENDATIONS
- Buy if price moves to $3,024
- Sell if price moves to $3,014
Resistance Level 2: $3,038
Resistance Level 1: $3,031
Support Level 1: $3,007
Support Level 2: $.3,000
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
