👀 Possible scenario:
Gold (XAU) fell over 1% on May 12, dropping below $3,280 to a one-week low as demand for safe-haven assets weakened. Optimism around U.S.-China trade talks grew after positive weekend discussions, with Beijing ready to begin formal negotiations and the U.S. highlighting progress toward a deal.
With little on the macro calendar on May 12, traders are focused on trade developments that could continue to pressure gold prices.
✅Support and Resistance Levels
Support level is now located at 3,195.00 .
Now, the resistance level is located at 3,495,00
Gold (XAU) fell over 1% on May 12, dropping below $3,280 to a one-week low as demand for safe-haven assets weakened. Optimism around U.S.-China trade talks grew after positive weekend discussions, with Beijing ready to begin formal negotiations and the U.S. highlighting progress toward a deal.
With little on the macro calendar on May 12, traders are focused on trade developments that could continue to pressure gold prices.
✅Support and Resistance Levels
Support level is now located at 3,195.00 .
Now, the resistance level is located at 3,495,00
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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.