Gold Gap Up Early in Asian Session!
Gold prices rose early in the Asian session on Monday (19/05) moving in the area of $ 3247. Gold strengthened again after its biggest weekly decline in six months, with interest in safe haven assets driven by increasing concerns about the US economic outlook and budget deficit.
Gold bullion rose as much as 1.3% to around $ 3,245 per ounce in early Asian trading. That happened after Moody's Ratings announced late Friday that it lowered the US government's main credit rating from Aaa to Aa1.
RECOMMENDATION
- Buy if the price moves to $ 3,257
- Sell if the price moves to $ 3,237
Resistance 2: $ 3,267
Resistance 1: $ 3,257
Support 1: $ 3,237
Support 2: $ 3,227
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