Gold Under Pressure, Dollar Strengthens & Trade Tensions Ease
Gold prices held around $3,310 per ounce on Tuesday (July 29), near a three-week low, as signs of easing trade tensions and a strengthening US dollar dampened the metal's appeal.
Investors are closely monitoring ongoing negotiations between the US and China, amid expectations of a 90-day extension of the August 12 tariff pause deadline.
This comes amid a crucial week for President Donald Trump's trade agenda, with separate deadlines set for other countries to reach agreements this Friday, following the deal announced with the European Union on Sunday that includes 15% tariffs on most European goods.
Gold prices were at $3,311/oz at the time of writing.
- Buy if the price moves to around $3,318
- Sell if the price moves around $3,304
Resistance 2: $3,332
Resistance 1: $3,325
Support 1: $3,297
Support 2: $3,290
DISCLAIMER
Note: This article is for analysis only and is not a definitive reference. Please consider fundamental and technical aspects of trading before making any investment decisions.
Source: Newsmaker.id