Gold Down After US Tariffs
Gold prices fell on Monday (4/7) as investors opted for the dollar as a safe haven after broad US tariffs raised fears of a global recession. However, analysts remained optimistic about bullion given the challenging economic conditions.
Gold, which is used as a safe investment during times of political and financial uncertainty, hit an all-time high driven by strong inflows of safe-haven assets amid geopolitical uncertainty and strong central bank demand.
RECOMMENDATIONS
- Buy if price moves to $ 2,977
- Sell if price moves to $ 2,967
Resistance Level 2: $ 2,991
Resistance Level 1: $ 2,984
Support Level 1: $ 2,960
Support Level 2: $ 2,953
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