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Indonesia News Portal for Traders | Financial & Business Updates

29 May 2025 08:18  |

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

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