Gold Prices Rise on Trump Trade Uncertainty
Gold rose again above $3,260 an ounce on Monday, as uncertainty surrounding U.S.-China trade talks supported demand for the safe-haven asset.
On Sunday, President Donald Trump said he believed China wanted to make a deal, though he did not provide details or a timetable. Last week, Beijing said it was evaluating starting trade talks but reiterated that any negotiations would require certain preconditions to be met. In addition, the U.S. dollar weakened, making gold more attractive to buyers holding other currencies.
RECOMMENDATION
- Buy if price moves to $3,271
- Sell if price moves to $3,261
Resistance Level 2: $3,284
Resistance Level 1: $3,277
Support Level 1: $3,255
Support Level 2: $3,248
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