Gold Drops Near 1% Again
Gold fell nearly 1% on Tuesday as signs of easing U.S.-China trade tensions eased some safe-haven demand, while investors awaited key economic data this week to gauge the outlook for Federal Reserve policy.
The easing trade tensions have prompted a sell-off in gold as a hedge against rising global volatility, which rallied in an unprecedented manner to hit a record high of $3,500.05/oz last week.
RECOMMENDATIONS
- Buy if price moves to $3,328
- Sell if price moves to $3,318
Resistance Level 2: $3,342
Resistance Level 1: $3,335
Support Level 1: $3,311
Support Level 2: $3,304
Note:
This article is analysis only and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id