Gold Steady After Auto Tariffs
Gold prices were steady for a second day Thursday (3/27), near a record high as U.S. President Donald Trump announced tariffs on all auto imports, escalating trade tensions and boosting demand for safe-haven assets.
On Wednesday, Trump signed a proclamation to impose a “permanent” 25% tariff on all cars not made in the U.S. starting April 2.
However, concerns that the president would further escalate trade tensions between the U.S. and global partners were eased when he said some of the reciprocal duties to be announced next week would be “very soft.” Trump also said he would consider lowering tariffs on China to secure Beijing’s support for the sale of TikTok’s U.S. operations to a local company.
RECOMMENDATION
- Buy if price moves to $3,036
- Sell if price moves to $3,026
Resistance Level 2: $3,050
Resistance Level 1: $3,043
Support Level 1: $3,019
Support Level 2: $.3,012
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
