Gold Weakens Further
Gold prices continued to decline in early European session on Monday (12/5), pressured by the strengthening US Dollar. This was accompanied by optimism in US-China trade talks in Geneva, Switzerland, over the weekend that dragged the precious metal lower.
The US and China ended high-stakes trade talks on a positive note on Sunday, with US officials touting a "deal" to reduce the US trade deficit, while Chinese officials said they had reached a "significant consensus".
RECOMMENDATION
- Buy if price moves to $3230
- Sell if price moves to $3216
Resistance 2: $3237
Resistance 1: $3230
Support 1: $3216
Support 2: $3209
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(ads)