Gold Hits New All-Time High
Gold rose to a new record high on Thursday (4/10) as concerns about the impact of tariffs on the global economy continued to push investors to seek safety in the precious metal even after U.S. inflation data eased.
Underlying U.S. inflation cooled broadly in March, suggesting some benefits to consumers before sweeping tariffs risk contributing to price pressures. U.S. equities fell after the biggest buying in years while bonds rebounded after the print. Traders are pricing in expectations for three interest rate cuts for the rest of the year, with a fourth possible. Lower interest rates are usually beneficial because they don’t pay interest.
RECOMMENDATIONS
- Buy if price moves to $3,168
- Sell if price moves to $3,158
Resistance Level 2: $3,182
Resistance Level 1: $3,175
Support Level 1: $3,151
Support Level 2: $3,144
Note:
This article is analysis only and is not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
