Gold Continues to Record New Highs in Europe
Gold continued to record new highs, moving above the $3,200 level for the first time on Friday (11/4), driven by a weakening US dollar and economic concerns due to the escalating trade war.
Despite the 90-day tariff suspension, investors remain concerned about President Trump's trade policies and their potential to drag the US economy into recession.
Meanwhile, the price of gold when this news was released rose 1.7% to the level of $3229/ toz.
RECOMMENDATION
- Buy if the price moves to $3236
- Sell if the price moves to $3223
Resistance Level 2: $3250
Resistance Level 1: $3242
Support Level 1: $3217
Support Level 2: $3210
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-yds-