Gold Recovers From Previous Session's Decline!
Gold prices rose on Tuesday, helped by global trade tensions between the U.S. and its major trading partners, and a weaker dollar.
Spot gold rose 0.8% to $3,005.21 an ounce by 0847 GMT, after hitting its lowest level since March 13. U.S. gold futures rose 1.6% to $3,020.70.
Spot gold remains up nearly 15% for the year, driven by geopolitical and economic uncertainty, strong central bank demand and rising flows into gold-backed exchange-traded funds (ETFs).
RECOMMENDATION
- Buy if price moves to $ 3,019
- Sell if price moves to $ 3,005
Resistance Level 2: $ 3,033
Resistance Level 1: $ 3,026
Support Level 1: $ 2,998
Support Level 2: $ 2,991
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