Gold Rises, Investors Seek Safe Haven Assets
Gold prices topped $3,300 for the first time on Wednesday (16/4), as investors sought safe havens after U.S. President Donald Trump ordered an investigation into potential new tariffs on U.S. imports of critical minerals.
Spot gold was up 2.3% at $3,301.78 an ounce by 1018 GMT, after hitting a record high of $3,317.90 earlier in the session. U.S. gold futures were up 2.4% at $3,317.70.
"Trump's trade war shows no signs of slowing... triggering a fresh move into safe havens and out of stocks," said Ole Hansen, head of commodity strategy at Saxo Bank.
RECOMMENDATION
- Buy if price moves to $3,308
- Sell if price moves to $3,294
Resistance Level 2: $3,322
Resistance Level 1: $3,315
Support Level 1: $3,287
Support Level 2: $3,280
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