Gold is spiraling out of control
Global gold prices have rallied to new all-time highs amid escalating trade tensions between the United States and China, supported by market confidence that the Federal Reserve will cut interest rates again this year.
This week alone, gold prices have risen nearly 5%, hitting a record high above $4,230 per ounce on Thursday. This increase is a continuation of the strong rally since mid-August.
At the time of writing, gold prices were at $4,225
- Buy if the price moves within $4,220
- Sell if the price moves within $4,230
Resistance 2: $4,240
Resistance 1: $4,233
Support 1: $4,218
Support 2: $4,210
Disclaimer: This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id