Gold Recovers Slightly Ahead of CPI
Gold prices edged higher early in the European session on Tuesday (5/13). Investors are now focused on a key U.S. inflation report, after the precious metal slumped along with other safe-haven assets on Monday following a trade truce between Washington and Beijing.
Bullion rose 0.6% to trade above $3,253 an ounce, after a major de-escalation in U.S.-China trade tensions sparked a sharp selloff. Investors will be watching the U.S. inflation report for April, which could be the first to show tariff-related costs.
Until this news was released, the price of gold was at the level of $ 3,253
RECOMMENDATION
- Buy if the price moves to $ 3,259
- Sell if the price moves to $ 3,247
Resistance 2: $ 3,266
Resistance 1: $ 3,259
Support 1: $ 3,247
Support 2: $ 3,241
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