Gold Strengthens Amid Fiscal Anxieties & US Tariffs
Gold prices are currently around $3,338 per ounce, recording a sharp increase as market concerns grow over the US fiscal condition and uncertainty over trade tariffs.
Investors are again looking to gold as a safe haven asset after US employment data sparked speculation that the Fed's interest rate cut may be delayed, while on the other hand there are concerns about the potential for a spike in debt due to President Trump's large stimulus plan.
Geopolitical tensions that are still looming have also strengthened demand for this precious metal, especially amid the risk-off sentiment that is starting to grow in the global market.
Recommendations:
Buy if the price breaks above $3345
Sell if the price breaks below $3331
Resistance 2: $3365
Resistance 1: $3355
Support 1: $3321
Support 2: $3311
Note: This article is intended for analysis and not as a definitive reference. Always pay attention to fundamental and technical developments before making investment decisions.
Source: Newsmaker.id