Gold Prices Record Limited Decline
Gold prices remained under pressure in the first half of the European session on Tuesday (8/7), although a number of factors helped limit further declines.
Meanwhile, expectations that US President Donald Trump's tariff policy could drive inflation in the coming months and force the Fed to maintain high interest rates were the main factors pressuring this non-yielding precious metal.
However, on the other hand, the US Dollar had difficulty attracting buying interest due to concerns about the worsening US fiscal conditions. In addition, concerns about the potential for an economic slowdown due to Trump's trade tariffs and increasing geopolitical risks kept investors alert.
The price of gold when this news was written was -0.3% or at the level of $3325/Toz.
Recommendation:
Buy if price breaks above $3,337
Sell if price breaks below $3,319
Resistance 2: $3,350
Resistance 1: $3,342
Support 1: $3,314
Support 2: $3,307
Note: This article is intended for analysis and not as a definitive reference. Always pay attention to fundamental and technical developments before making investment decisions.
Source: Yds-Newsmaker.id
