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Indonesia News Portal for Traders | Financial & Business Updates

7 August 2025 10:36  |

Gold Strengthens on Tariff Tensions and a Weaker Dollar

Gold strengthened on Thursday (August 7), driven by renewed safe-haven demand after US President Donald Trump imposed an additional 25% tariff on Indian imports, escalating trade tensions.

Adding support to gold, the dollar index hovered near a more than one-week low after surprisingly weak US employment data last week fueled speculation of a US interest rate cut in September. A weaker dollar makes gold cheaper for holders of other currencies.

Gold price at the time of writing was at $3,377/Toz.

- Buy if the price moves to around $3,384

- Sell if the price moves around $3,370

 

Resistance 2: $3,398

Resistance 1: $3,391

 

Support 1: $3,363

Support 2: $3,356

 

DISCLAIMER

Note: This article is analytical only and is not a definitive reference. Pay attention to developments in fundamental and technical aspects of trading before making investment decisions.

Source: Newsmaker.id

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