This US-China easing is what’s happening to Gold!
Gold Down after hitting a record high of $3,500 an ounce for the first time as traders booked profits following a nearly 10% rally this month. Gold fell as much as 1.5% to open Asian trading on Wednesday as risk appetite improved with equities bouncing back, bonds and the dollar stabilizing.
Market participants are now speculating as they await key data this week, while some are also speculating on taking profits.
RECOMMENDATIONS
- Buy if price moves to $3,346
- Sell if price moves to $3,336
Resistance Level 2: $3,351
Resistance Level 1: $3,346
Support Level 1: $3,336
Support Level 2: $3,331
Note:
This article is only an analysis and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id