Gold Stable After Aggressive Past Few Days
Gold prices tended to be stable in the area of $2991-$2981 on Tuesday (8/4) this was accompanied by concerns that US President Donald Trump's trade war could risk causing a global economic downturn, driving demand for safe haven assets, indicating a pause in asset sell-offs in the past few days.
Amid the global economic turmoil due to Donald Trump's widespread Tariffs, Gold is still a safe haven asset. The sharp decline that has occurred is only temporary, furthermore several factors are still very supportive of the increase in Gold prices.
RECOMMENDATION
- Buy if price moves to $ 3,002
- Sell if price moves to $ 2,992
Resistance Level 2: $ 3,008
Resistance Level 1: $ 3,002
Support Level 1: $ 2,992
Support Level 2: $ 2,986
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