Gold prices bounce back
Gold prices are trading on a positive note, After a decline of over 2.70% on Monday, it is trading around $3,250, up 0.42%. A weaker-than-expected US inflation report and a trade truce between China and the US could keep Gold prices capped below $3,300.
The US inflation data for April was slightly lower than expected by market participants on a monthly basis. The yearly figures were in line with projections, indicating that the effects of tariffs have not yet been reflected in the “hard data”.
Until this news was released, the price of gold was at the level of $ 3,247
RECOMMENDATION
- Buy if the price moves to $ 3,240
- Sell if the price moves to $ 3,255
Resistance 2: $ 3,260
Resistance 1: $ 3,255
Support 1: $ 3,240
Support 2: $ 3,235
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