Gold Down as Risk Sentiment Improves
Gold prices fell more than 1%, off a record high, as risk appetite improved after the U.S. exempted electronics such as smartphones and computers from high tariffs on China.
Spot gold fell 1.1% to $3,200.11 an ounce, as of 11:48 a.m. ET (1548 GMT), after hitting an all-time high of $3,245.42. U.S. gold futures fell 0.9% to $3,216.20.
Meanwhile, Bart Melek, head of commodity strategy at TD Securities said, "Some risky trades here have taken gold off its recent highs, but the environment is still pretty good for gold.
As of this news release, Gold Price is at $3,210
RECOMMENDATION
- Buy if price moves to $3,205
- Sell if price moves to $3,215
Resistance Level 2: $3,230
Resistance Level 1: $3,220
Support Level 1: $3,200
Support Level 2: $3,190
Note:
This article is only analysis and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
