Gold Rises as Geopolitical Risks Support Safe Haven Assets
Gold (XAU/USD) prices rose during the Asian session on Tuesday (06/05). Despite signs of easing US-China trade tensions, investors remain cautious following US President Donald Trump's erratic trade policies.
In addition, persistent geopolitical risks stemming from the prolonged Russia-Ukraine war and conflicts in the Middle East have boosted demand for the safe haven precious metal.
As of this writing, Gold is at $3,361
RECOMMENDATION
- Buy if price moves to $3,366
- Sell if price moves to $3,356
Resistance Level 2: $3,380
Resistance Level 1: $3,373
Support Level 1: $3,349
Support Level 2: $3,342
Note:
This article is only an analysis and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id