Gold Down on Trump Tariff Suspension
Gold continued to fall on Tuesday (5/27) as the dollar strengthened and demand for safe-haven assets declined, with investors also weighing the prospect of improving trade relations between the U.S. and the European Union.
Bullion fell 1.5% as signs that Japan may be ready to adjust its debt issuance boosted global bonds and the U.S. currency. A stronger U.S. dollar makes gold more expensive for buyers in other currencies, while lower debt yields reduce the appeal of the non-interest-bearing precious metal.
RECOMMENDATIONS
- Buy if price moves to $3,305
- Sell if price moves to $3,295
Resistance 2: $3,319
Resistance 1: $3,312
Support 1: $3,288
Support 2: $3,281
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