EQUITYWORLD FUTURES estimates that the price of gold is still potentially weak with the strengthening of Wall Street and the US dollar. The gold price is expected to move within the range Support $ 1.207 - $ 1.205, and if the price rises will move in a range Resistance $ 1.211 - $ 1.213.
Trump said the United States formally withdrew from the deal Trans-Pacific Partnership trade on Monday and told the US manufacturing executives he will impose hefty border tax on companies that import products after removing American factories abroad.
Trump protectionist reports and the lack of policy detail has led some investors opt for gold, which is often seen as an alternative investment during times of geopolitical and financial turmoil. It rose to its highest level since Nov. 22 during a session Tuesday before giving back gains.
LLG spot gold price was down 0.7 percent at $ 1,208.80 an ounce from an earlier high of $ 1,219.59.
US gold futures slipped 0.58 percent to $ 1,208.5.
Minister of Trade of Indonesia import of sugar for Inadequate National Needs | EQUITYWORLD FUTURES
The dollar index, which measures the greenback against a basket of currencies, was down 0.10 percent at 100.06. In the previous session at its lowest level for more than seven weeks of 99.899.
Volume and purchasing needs of the Shanghai Gold Exchange is expected to begin to decline between now and the week-long Lunar New Year holiday, according to analysts.
Among other precious metals, silver fell 0.21 percent to $ 17.15 per ounce, while platinum rose 2.36 percent to $ 1,003.00.
Palladium gained 1.52 percent at $ 788.10 an ounce after reaching $ 795.60, the highest since May 2015, in the previous session. Equity World, PT Equityworld, Equityworld Futures
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