Gold Down as U.S., China Talk Tariffs
Gold fell on Wednesday, snapping a two-day advance, as signs of progress in U.S.-China trade talks curbed demand for safe havens even as military hostilities between India and Pakistan escalated.
The talks were the first since President Donald Trump imposed sweeping tariffs on China, raising optimism about a deal between the world’s two largest economies. But Beijing has said it will not sacrifice its principled stance or international fairness in seeking any deal. The dollar strengthened against most major currencies.
Until this news was released, the price of Gold was at the level of $ 3,384
RECOMMENDATION
- Buy if the price moves to $ 3,389
- Sell if the price moves to $ 3,379
Resistance Level 2: $ 3,403
Resistance Level 1: $ 3,396
Support Level 1: $ 3,372
Support Level 2: $ 3,365
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