This is the Reason Gold Dropped Slightly This Morning!
Gold prices fell on Monday (26/5) at the beginning of the Asian trading session. When the market opened until this news, the gold price movement tended to experience a decline of 0.50% and moved in the area of $ 3339.
From a fundamental perspective, gold prices were driven by Donald Trump's easing of policy towards the European Union by extending the deadline for comprehensive tariff actions.
Although a softer stance on trade will increase demand for safe haven assets, gold's appeal as a safe haven asset has strengthened amid growing concerns about the US government's fiscal position after Moody's Ratings this month withdrew the US's top credit rating. Investors are concerned that Trump's signature tax bill, which was passed by the House last week and is now in the Senate, will further inflate the deficit.
RECOMMENDATION
- Buy if price moves to $3,349
- Sell if price moves to $3,329
Resistance 2: $3,359
Resistance 1: $3,349
Support 1: $3,329
Support 2: $3,319
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
