Gold Steady Ahead of US Data To Night
Gold prices rebounded after investors digested conflicting signals from the United States regarding the direction of its trade policy. President Donald Trump's statement that threatened tariffs were part of a negotiating strategy fueled renewed uncertainty in global markets. This has made gold, considered a safe-haven asset, popular again, despite a slight correction the previous day. Currently, gold is trading near $3,364 per ounce, reflecting market sentiment that remains cautious about US policy volatility.
Technically, gold's medium-term trend remains bullish, supported by a decline in the dollar index and market concerns over a potential escalation in trade conflicts heading into August. Although gold's rally has stalled in the past three months, analysts predict that the potential for a retest of record prices remains open, especially if geopolitical tensions or trade policies escalate. For now, the market appears to be in a consolidation phase, awaiting the next strong catalyst from economic data or major diplomatic developments.
Recommendation:
Buy if the price breaks above $3,366
Sell if the price breaks below $3,354
Resistance 2: $3,372
Resistance 1: $3,366
Support 1: $3,354
Support 2: $3,349
Note: This article is intended for analysis and is not intended as a definitive reference. Always pay attention to fundamental and technical developments before making investment decisions.
Source: ayu-Newsmaker.id
