Safe Haven Tested, Gold Stagnates
Gold prices held steady at $3,294 per ounce, despite a 1.4% weekly decline. Uncertainty over new US tariffs boosted interest in safe haven assets, but a strengthening dollar limited gains.
The market now awaits Friday's US jobs data. If the data is weak, the likelihood of a Fed rate cut could increase gold's upside. Other metals such as silver and platinum also weakened.
Gold prices at the time of writing were at $3,294/oz.
- Buy if the price moves to around $3,300
- Sell if the price moves around $3,289
Resistance 2: $3,306
Resistance 1: $3,300
Support 1: $3,289
Support 2: $3,283
DISCLAIMER
Note: This article is for analysis purposes only and is not a definitive reference. Pay attention to developments in fundamental and technical aspects of trading before making investment decisions. (ayu)
Source: Newsmaker.id