Gold prices were steady during midday trading on Tuesday in the US, with a slight increase of $5.10 to $1,979 per ounce due to some light safe-haven demand. The demand was caused by news of a dam and a large power plant explosion in Ukraine, which has raised concerns about crop and food damage.
This situation is seen as a significant escalation in the Russia-Ukraine conflict. The blame game between Russia and Ukraine is ongoing over the destruction of the dam in the Russian-controlled territory in Ukraine. The largest nuclear power plant in Europe is located upstream from the dam and is being monitored closely by the market.
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⭐️Make a trading plan: ✅Buy order in the $1,944-$1,947 price zone when the support zone is approached. ✖️Stoploss: $1,940.
✅Sell the $1,976-$1,973 range when the price hits the resistance area. ✖️Stoploss: $1,980.
AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!