Gold Still Corrected After US and China Agree on Tariffs
The price of gold as a safe haven fell as risk sentiment began to emerge following the announcement of an interim agreement between the United States and China to reduce tariffs.
Bullion, which is considered a hedge against economic and geopolitical turmoil, hit a record high of $3,500 last month amid rising tariff uncertainty.
Gold's over-response to chaotic headlines from the White House last month left the precious metal vulnerable to a retraction of Trump's statement.
As of this news release, the price of gold is at $3,221
RECOMMENDATION
- Buy if the price moves to $3,230
- Sell if the price moves to $3,216
Resistance 2: $3,235
Resistance 1: $3,230
Support 1: $3,216
Support 2: $3,209
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