Spot gold started last week strongly, reaching its all‑time high at 3500, but ended the week with a slight loss of 0.2%, closing at 3320. This morning, spot gold has declined by nearly 1%, mainly due to reduced demand for safe-haven assets following an easing of U.S.–China trade tensions, along with a strengthening U.S. Dollar Index (DXY).
On the geopolitical front, diplomatic communications are still ongoing.
Technically, if the support at 3260 is broken, gold may target the 3230 level. On the upside, successive resistance levels are located at 3300 and 3340.
On the geopolitical front, diplomatic communications are still ongoing.
Technically, if the support at 3260 is broken, gold may target the 3230 level. On the upside, successive resistance levels are located at 3300 and 3340.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.