Gold Down Ahead of FOMC
Gold fell on Wednesday (7/5) in the European session, entering a new round of trade wars, now the US-China is starting to ease, this is enough to suppress demand for safe assets even as military hostilities between India and Pakistan escalate, and the Dollar Index is stable.
However, Beijing said it would not sacrifice its principled stance or international justice to seek any deal. Currently, market players choose to wait and see ahead of this week's FOMC.
As of this news release, the price of Gold is at $3,383
RECOMMENDATION
- Buy if the price moves to $3,388
- Sell if the price moves to $3,378
Resistance Level 2: $3,393
Resistance Level 1: $3,388
Support Level 1: $3,378
Support Level 2: $3,373
Note:
This article is only an analysis and not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id