Gold set for fifth weekly gain
Gold held above $3,110 an ounce on Friday, set for a fifth straight weekly gain after repeatedly hitting all-time highs, driven by risk aversion stemming from U.S. tariffs.
Trump announced a 10% base tariff on imports from all countries, along with higher duties on some of the U.S.’s biggest trading partners, prompting retaliatory measures from those countries. Meanwhile, gold weakened on Thursday, pressured by profit-taking and reports that the precious metal is exempt from Trump's tariffs
As of this writing, Gold Price is at $3,098
RECOMMENDATION
- Buy if price moves to $3,095
- Sell if price moves to $3,110
Resistance Level 2: $3,120
Resistance Level 1: $3,115
Support Level 1: $3,090
Support Level 2: $3,085
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