Trump's New Tariffs, Why Isn't Gold Flying?
Gold prices are stable at around $3,334 per ounce in the Asian session. Market sentiment is still affected by Trump's announcement of new tariffs on several Asian countries, which has triggered demand for safe havens. But the strengthening US dollar and rising bond yields have held back gold's progress. On the other hand, market players are choosing to wait and see, preparing for Donald Trump's tariff policy scenario.
Fundamentally, expectations of the Fed's interest rate cuts and central bank gold purchases support prices to remain strong. However, as long as the dollar is still strong, gold's increase is potentially limited in the short term.
Until this News Release, Gold Price is at Level $ 3,331
Recommendation:
Buy if price breaks above $ 3,336
Sell if price breaks below $ 3,326
Resistance 2: $ 3,341
Resistance 1: $ 3,336
Support 1: $ 3,326
Support 2: $ 3,321
Note: This article is intended for analysis and not as a definite reference. Always pay attention to fundamental and technical developments before making investment decisions.
Source: Newsmaker.id
