Trade War Heats Up, Gold Heats Up!
Gold rose on Thursday to start the Asian trading session. The enthusiasm that made the price of Gold rise was accompanied by news of reciprocal tariffs between the world's two largest trading partners, the US and China.
China announced an increase in US import tariffs to 84% from 34%, shortly after Trump's punitive tariffs of 104% on Chinese imports came into effect on Wednesday, as the standoff between the world's two largest economies showed no signs of resolution.
RECOMMENDATIONS
- Buy if the price moves to $3,101
- Sell if the price moves to $3,091
Resistance Level 2: $ $3,111
Resistance Level 1: $3,101
Support Level 1 : $3,091
Support Level 2: $ 3,081
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