Gold Rises After Trump Tariffs Take Effect
Gold (XAU/USD) prices soared and recovered to $3,063 at the time of writing on Wednesday after US President Donald Trump’s tariffs went into effect.
At one point this week, the market was hoping for a last-minute solution as several news outlets reported on Monday that President Trump was considering a 90-day tariff pause for all countries except China.
However, the White House stated that any suggestion that President Trump was considering a 90-day tariff pause was “fake news.”
RECOMMENDATIONS
- Buy if price moves to $3,070
- Sell if price moves to $3,056
Resistance Level 2: $3,084
Resistance Level 1: $3,077
Support Level 1: $3,049
Support Level 2: $3,042
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