Spot gold closed yesterday with a 1.9% gain, settling at 3,290. After a brief dip due to developments in the U.S.–China trade agreement, the precious metal resumed its upward trajectory—supported by Moody’s downgrade of the U.S. credit rating, rising concerns over the federal budget deficit, Federal Reserve officials’ comments highlighting continued uncertainty, and declining confidence in U.S. Treasury bonds.
This morning, gold opened higher, bolstered by reports of a potential Israeli attack on Iranian nuclear facilities in the Middle East.
Technically, as long as the price remains above 3,290, the next resistance target is 3,345. On the downside, 3,250 serves as the main support level.
This morning, gold opened higher, bolstered by reports of a potential Israeli attack on Iranian nuclear facilities in the Middle East.
Technically, as long as the price remains above 3,290, the next resistance target is 3,345. On the downside, 3,250 serves as the main support level.
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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.