Gold Steady After Sharp Drop!
Gold prices recover on Thursday in early Asian trading (5/29) Gold bullion prices fell as much as 1% on Thursday, adding to losses of 2% in the previous three sessions, as the US Court of International Trade deemed Trump's tariffs illegal, further strengthening the dollar. A stronger US dollar makes gold more expensive for most buyers.
On the other hand, the Federal Reserve also revealed in the minutes of its May 6-7 meeting that it sees rising inflation and increased unemployment risks due to the trade war.
RECOMMENDATIONS
- Buy if the price moves to $ 3,263
- Sell if the price moves to $ 3,243
Resistance 2: $ 3,373
Resistance 1: $ 3,263
Support 1: $ 3,243
Support 2: $ 3,233
Note: This article analysis is only and is not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id