Gold Corrects Driven by Profit Taking Action
Gold (XAU/USD) prices corrected in European trade after initially hitting a new all-time high of $3,167 in early Asia.
Traders took profits, pushing bullion prices to $3,125 at the time of writing on Thursday. The market saw all asset classes absorb the overnight shock statement from United States (US) President Donald Trump, who unveiled his retaliatory tariff plan to the world.
RECOMMENDATION
- Buy if price moves to $3,113
- Sell if price moves to $3,099
Resistance Level 2: $3,130
Resistance Level 1: $3,121
Support Level 1: $3,091
Support Level 2: $3,082
Note:
This article is only analysis and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id