Gold Is Still Very Positive!
Gold continued its rise this morning (03/6) accompanied by a weaker dollar and stronger demand for safe haven assets due to trade and geopolitical risks.
In addition, Fed Chair Powell did not comment on policy or the economy in his opening remarks at the 75th anniversary conference of the Division of International Finance. Meanwhile, Goolsbee said that if the "difficult period" of tariff and trade uncertainty passes, and the dual mandate still looks good, the FOMC could be on track to cut interest rates. He said he had seen "very little immediate impact so far in the data," but he was not sure if "that will remain the case for the next month or two." Goolsbee is a left-leaning centrist who is a voter this year.
RECOMMENDATION
- Buy if price breaks above $3,381
- Sell if price breaks above $3,360
Resistance 2: $3,391
Resistance 1: $3,381
Support 1: $3,360
Support 2: $3,350
Note: This article is for analysis purposes only and is not a definitive reference. Please pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
