Gold Down as US Dollar Strengthens
Gold prices fell on Thursday (5/22) as a stronger US dollar weighed on the bullion as US Treasury yields fell from intraday highs as the US House of Representatives approved Trump's budget, which will now be sent to the Senate for approval.
Market sentiment improved slightly but remained fragile as it was sponsored by a Moody's downgrade of the US government's debt rating. The fiscal package so far approved by the US lower house is projected to add $4 trillion to the debt ceiling.
RECOMMENDATIONS
- Buy if price moves to $3,300
- Sell if price moves to $3,290
Resistance 2: $3,314
Resistance 1: $3,307
Support 1: $3,283
Support 2: $3,276
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
Related News