Gold Hits New Record High
Gold rose to a new record high on Monday (4/21), as a weaker dollar and uncertainty over the economic impact of U.S.-China trade tensions spurred demand for safe-haven bullion.
The dollar fell as investor confidence in the U.S. economy was hit again by President Donald Trump's comments about Federal Reserve Chairman Jerome Powell. A weaker dollar makes bullion more attractive to holders of other currencies.
RECOMMENDATIONS
- Buy if price moves to $3,417
- Sell if price moves to $3,407
Resistance Level 2: $3,431
Resistance Level 1: $3,424
Support Level 1: $3,400
Support Level 2: $3,393
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