Gold Seeks to Continue Rising
Gold continued to rise in Europe on Tuesday (06/05) for the second straight day, as geopolitical tensions around the world continued to support investor demand for safe-haven assets. In the Middle East, Israel is increasingly preparing its ground offensive in the Gaza Strip with the aim of taking full control of the territory.
In the United States (US), pressure is mounting on US President Donald Trump and his administration to finally announce the first trade deal. Trump and his cabinet have been vocal about an imminent deal, with US Commerce Secretary Howard Lutnick saying that the first trade deal will be with the top 10 economies, Fox News reported.
Until this news was released, the price of Gold was at the level of $ 3,361
RECOMMENDATION
- Buy if the price moves to $ 3,378
- Sell if the price moves to $ 3,368
Resistance Level 2: $ 3,384
Resistance Level 1: $ 3,378
Support Level 1: $ 3,368
Support Level 2: $ 3,362
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