Gold Down as U.S., China Tariffs Ease
Gold prices fell on Friday, erasing gains from the previous session after Beijing announced exemptions for some U.S. goods from 125% tariffs, signaling a thaw in the trade dispute and reducing bullion’s appeal as a hedge.
At the same time, the dollar index approached the 100 mark, making dollar-priced bullion more expensive for overseas buyers, while U.S. Treasury yields edged higher as Fed officials reiterated their patience with policy.
RECOMMENDATIONS
- Buy if price moves to $3,292
- Sell if price moves to $3,282
Resistance Level 2: $3,306
Resistance Level 1: $3,299
Support Level 1: $3,275
Support Level 2: $3,268
Note:
This article is analysis only and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id