Gold Continues To Record High
Gold rose to a new record high above $3,200 an ounce on Friday as concerns about the impact of tariffs on the global economy boosted bullion’s appeal as a haven for investors.
Gold’s safe-haven status has been bolstered this week, with President Donald Trump’s U-turn on tariffs sparking a panic sell-off in stocks, bonds and the U.S. dollar as fears of a global recession gripped Wall Street. In particular, the sell-off in U.S. Treasury bonds highlighted the declining appetite for U.S. assets and raised questions about whether the country’s debt remains a safe haven.
RECOMMENDATIONS
- Buy if price moves to $3,233
- Sell if price moves to $3,223
Resistance Level 2: $3,247
Resistance Level 1: $3,240
Support Level 1: $3,216
Support Level 2: $3,209
Note:
This article is analysis only and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
