Gold Nears All-Time High After US Data Release
Gold prices surged to a new record high in afternoon trading, peaking at $3,084 an ounce as concerns over global trade tensions and an uncertain economic outlook spurred safe-haven demand.
Meanwhile, the latest US data showed the PCE price index—the Federal Reserve’s preferred inflation gauge—rose 2.5% in the 12 months to February, still above the central bank’s 2% target.
RECOMMENDATIONS
- Buy if price moves to $3,089
- Sell if price moves to $3,079
Resistance Level 2: $3,094
Resistance Level 1: $3,089
Support Level 1: $3,079
Support Level 2: $3,074
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