Gold Down on Selling Action
Gold prices pared losses on Thursday (3/4) after falling more than 2% from an all-time high (ATH), as a widespread market selloff triggered by US President Donald Trump's import tariffs has affected bullion traders.
Meanwhile, traders attributed the decline to some profit-taking and margin calls in other asset classes that likely prompted investors to sell some of their gold holdings to cover losses.
RECOMMENDATION
- Buy if price moves to $ 3,114
- Sell if price moves to $ 3,104
Resistance Level 2: $ 3,128
Resistance Level 1: $ 3,121
Support Level 1: $ 3,097
Support Level 2: $ 3,090
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