Gold Continues Struggling to Fly Higher
The dollar continued to be pressured, sending gold prices to a new record high on Tuesday (4/22), 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 took another hit over President Donald Trump's comments about Federal Reserve Chairman Jerome Powell. A weaker dollar makes bullion more attractive to holders of other currencies.
RECOMMENDATION
- Buy if price moves to $3,427
- Sell if price moves to $3,410
Resistance Level 2: $3,437
Resistance Level 1: $3,427
Support Level 1: $3,410
Support Level 2: $3,400
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