Gold Down on Optimism Over US-China Trade Talks
Gold fell on Friday (5/9), as optimism over US-China trade talks reduced the appeal of safe-haven assets.
Officials from both countries are scheduled to meet later this week, raising hopes of progress in resolving trade disputes. The announcement of a US-UK trade agreement further eased concerns over global trade tensions.
As of this writing, gold is trading at $3,278
RECOMMENDATION
- Buy if price moves to $3,283
- Sell if price moves to $3,273
Resistance Level 2: $3,297
Resistance Level 1: $3,290
Support Level 1: $3,266
Support Level 2: $3,259
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