Gold Prices Slightly Down as Week Ends
Gold prices fell on Friday (August 8th). Traders digested the latest tariff headlines as the precious metal headed for its second consecutive weekly gain. However, the decline in gold prices appears to be temporary.
The latest gold price decline was largely driven by profit-taking as traders capitalized on the surge in gold futures prices to new record highs.
Gold prices were at $3,388/Toz at the time of writing.
- Buy if the price moves to around $3,395
- Sell if the price moves around $3,381
Resistance 2: $3,409
Resistance 1: $3,402
Support 1: $3,374
Support 2: $3,367
DISCLAIMER
Note: This article is analytical only and is not a definitive reference. Consider fundamental and technical developments in trading before making investment decisions.
Source: Newsmaker.id(alg)