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Indonesia News Portal for Traders | Financial & Business Updates

16 May 2025 11:26  |

Gold Heads for Weekly Decline

Gold prices fell on Friday (5/16) heading for a weekly decline of more than 3%, as easing global trade tensions weakened its appeal as a safe haven asset.

The U.S. and China recently agreed to temporarily reduce tariffs for 90 days, easing concerns about the long-term impact of their trade conflict. Geopolitical risks also appeared to ease, with the India-Pakistan ceasefire remaining stable.

As of this writing, Gold prices were at $3,215

RECOMMENDATION

- Buy if price moves to $3,220

- Sell if price moves to $3,210

 

Resistance 2: $3,234

Resistance 1: $3,227

 

Support 1: $3,203

Support 2: $3,196

Note: This article is analysis only and is not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.

Source: Newsmaker.id

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