Gold Shines on Central Bank Buying
Gold prices rose again on Thursday (November 6th), driven by increased demand as a safe-haven asset amid geopolitical and economic uncertainty, a wave of central bank buying strengthening structural support, and expectations of an interest rate cut by the Federal Reserve, which lowered real yields, making the precious metal more attractive. (alg)
At the time of this analysis, gold prices were around $4,015
- Buy if the price is around $4,022
- Sell if the price is around $4,008
Resistance 2: $4,034
Resistance 1: $4,029
Support 1: $4,001
Support 2: $3,996
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id