Gold Down After Tariff Threat
Gold prices fell again on Tuesday (4/8) as the White House announced that 104% tariffs on China would go into effect at noon Eastern Time, Press Secretary Karoline Leavitt said, in retaliation for China’s 34% tariffs on U.S. exports. She added that the tariffs would be levied starting April 9.
Investors are now awaiting the minutes of the U.S. Federal Reserve’s latest policy meeting on Wednesday for further clues on the direction of interest rate cuts.
RECOMMENDATIONS
- Buy if price moves to $2,981
- Sell if price moves to $2,971
Resistance Level 2: $2,995
Resistance Level 1: $2,988
Support Level 1: $2,964
Support Level 2: $2,957
Note:
This article is only an analysis and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id