Gold Up Early in Europe
Gold prices are slightly up, as of this writing, Gold prices are trading around $303.
Prices have been hovering near record highs since US President Donald Trump announced tariffs on all auto imports, escalating trade tensions and boosting demand for safe haven assets.
Traders are now waiting to see how the dollar will react to Friday's personal consumption expenditures price index data. However, "this data will not be too important considering we just heard from Powell last week - the Fed is in no hurry, tariff inflation is 'transitory'," said analysts at Peak Trading Research.
RECOMMENDATION
- Buy if price moves to $3,040
- Sell if price moves to $3,030
Resistance Level 2: $3,045
Resistance Level 1: $3,040
Support Level 1: $3,030
Support Level 2: $3,025
Note:
This article is only an analysis and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id