Gold Rises Again! Focus Remains on Trade and the Fed
Gold maintained its three-day rally as US President Donald Trump announced a highly anticipated trade deal with Japan, signaling progress in tense negotiations ahead of his August 1 tariff deadline.
Bullion prices are trading near $3,430 an ounce, up 2.5% so far this week as Trump announced he would impose 15% and 19% tariffs on goods from Japan and the Philippines, strategic geopolitical allies.
With several countries racing to secure trade deals, investors are seeking clarity, particularly on progress with China.
Recommendations:
Buy if price breaks above $3,429
Sell if price breaks below $3,415
Resistance 2: $3,443
Resistance 1: $3,436
Support 1: $3,408
Support 2: $3,401
Note: This article is intended for analytical purposes and should not be considered definitive. Always pay attention to fundamental and technical developments before making investment decisions.
Source: Newsmaker.id