Gold Trims Gains After Hitting New Record
Gold prices trimmed previous gains in the Asian session, where a new record was created when prices touched $ 3167 in early Asian trading. After that, prices fell and traded in the range of $ 3140.
This Thursday (3/4) morning, Trump said that he would impose a minimum tariff of 10% on all exports to the US, and dozens of countries with the largest trade imbalances face higher tariffs. The tariff imposed on China is 34%, while for the European Union it is 20% and for Vietnam it is 46%. Uncertainty in the global economy has fueled demand for gold.
RECOMMENDATION
- Buy if price moves to $3153
- Sell if price moves to $3143
Resistance Level 2: $3167
Resistance Level 1: $3156
Support Level 1: $3138
Support Level 2: $3127
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