Gold prices continued to decline in the European session on Friday (21/03). Gold is currently trading in the $3028 area
After some minor corrections from overbought technical levels, gold prices have stabilized and remain well supported, he said in a note.
Meanwhile, Investors have been buying gold as a hedge against uncertainty about Trump's policies and central banks are buying gold to reduce their dependence on the US dollar. In the long term, rising geopolitical risks will continue to support the precious metal's prospects. Investors are concerned about the de-dollarization trend as the importance of the US dollar as a global trading currency may be eroded, he added.
Source: Newsmaker.id