Gold Down as Some Supporting Factors Ease
Gold moved in the $3230 area during the European trading session on Wednesday (5/14), several supporting factors are now easing, one of which is the geopolitical side and the US-China trade war. This continues to weigh on its appeal as a safe haven asset.
The precious metal remains about a fifth higher this year, after hitting a record high above $3,500 an ounce last month as trade tensions escalate. Investors worry that the confrontation could trigger a slowdown in growth or recession, as well as faster inflation.
Until this news was released, the price of gold was at the level of $ 3,230
RECOMMENDATION
- Buy if the price moves to $ 3,235
- Sell if the price moves to $ 3,225
Resistance 2: $ 3,257
Resistance 1: $ 3,250
Support 1: $ 3,225
Support 2: $ 3,220
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