Gold Rises Amid Global Economic Slowdown.
Gold is attracting buyers amid global growth concerns and growing speculation of a Fed interest rate cut. Traders are increasing speculation of a US interest rate cut following weak US private employment data and a dismal University of Michigan (UoM) Consumer Sentiment Index survey.
At the time of this analysis, gold prices were around $4,080.
Buy if the price is around $4,075.
Sell if the price is around $4,085.
Resistance 2: $4,100.
Resistance 1: $4,090.
Support 1: $4,070.
Support 2: $4,060.
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