Gold Prices Weaken Again Despite Increased Risk Aversion
Gold prices (XAU/USD) weakened slightly on Tuesday after two days of gains. However, the safe-haven metal is likely to strengthen due to uncertainty ahead of US President Donald Trump's tariff deadline on August 1st. Market sentiment has also deepened due to growing concerns about the independence of the Federal Reserve (The Fed).
As of this writing, gold prices are at $3,388.
Recommendation:
Buy if the price breaks above $3,380
Sell if the price breaks below $3,395
Resistance 2: $3,405
Resistance 1: $3,395
Support 1: $3,380
Support 2: $3,375
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: Newsmaker.id