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Market & Economic Intelligence Platform Insight on Macro, Commodities, Equities & Policy

11 July 2025 09:53  |

Gold Rises Again! Posts Third Straight Day of Gains

Gold rose to around $3,330 an ounce on Friday, strengthening for a third consecutive session, supported by safe-haven demand amid escalating trade tensions.

President Donald Trump announced 35% tariffs on Canadian imports starting August 1 and hinted at plans for blanket tariffs of 15-20% on most other trading partners.

This follows earlier threats against Brazil and proposed tariffs on copper, semiconductors, and pharmaceuticals.

Meanwhile, Trump's call for a 300-bps cut in the Fed funds rate fueled speculation about a dovish Fed chairman candidate next year and raised concerns about long-term inflation expectations.

Recommendation:

Buy if price breaks above $3,340

Sell if price breaks below $3,326

 

Resistance 2: $3,354

Resistance 1: $3,347

 

Support 1: $3,319

Support 2: $3,312

 

Note: This article is intended for analytical purposes and should not be considered definitive guidance. Always pay attention to fundamental and technical developments before making investment decisions.

 

Source: Newsmaker.id

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