Gold Rises as Moody's Downgrades US
Gold rose on Monday (5/19) as the dollar slumped after Moody's Ratings removed the US's last top credit rating due to ballooning debt and deficits.
Moody's blamed successive administrations and Congress for a ballooning budget deficit that it said showed no signs of abating. And there are concerns the situation could get worse, with Republican lawmakers discussing President Donald Trump's tax and spending package.
RECOMMENDATIONS
- Buy if price moves to $3,234
- Sell if price moves to $3,224
Resistance 2: $3,248
Resistance 1: $3,241
Support 1: $3,217
Support 2: $3,210
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