Gold Steady in Negative Area
Gold futures fell as safe-haven demand waned, and investors moved closer to the US gold bullion. Gold futures fell 1.3% to $3,167.42 per troy ounce, the lowest level since April 10.
The precious metal's appeal was hit by the US-China deal on Monday when the two countries agreed to significantly reduce tariffs, which triggered risk-on sentiment in the market. Meanwhile, market players are still waiting for several important data to be released tonight, and the speech of the Fed chairman regarding the outlook for US monetary policy going forward.
Until this news was released, the price of gold was at $3,167
RECOMMENDATION
- Buy if the price moves to $3,177
- Sell if the price moves to $3,157
Resistance 2: $3,187
Resistance 1: $3,177
Support 1: $3,157
Support 2: $3,147
Note: This article is analysis only and not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id