Gold Down After Profit Taking Action
Gold prices fell at the end of the week on Friday (18/4). because investors booked profits during the long Easter holiday. Significant uncertainty over US President Donald Trump's import tariffs into the US and ongoing geopolitical tensions could support gold prices, which are known as safe haven assets.
On the other hand, Federal Reserve (Fed) Chairman Jerome Powell was hawkish, reducing the possibility of a Fed rate cut in June. This, in turn, could lift the Greenback and weigh on USD-denominated commodity prices.
RECOMMENDATION
- Buy if the price moves to $ 3,332
- Sell if the price moves to $ 3,322
Resistance Level 2: $ 3,349
Resistance Level 1: $ 3,339
Support Level 1: $ 3,315
Support Level 2: $ 3,308
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