Gold Remains in the Green Zone Despite Slight Weakness
Gold weakened on Wednesday amid waning safe-haven demand and a moderate strengthening USD. The prevailing risk-on environment further drove outflows from the safe-haven precious metal.
Economic concerns and speculation about a Fed rate cut may limit further USD gains and support this commodity.
At the time of this analysis's release, the gold price was at $4,128.
Buy if the price is in the $4,120 area.
Sell if the price is in the $4,135 area.
Resistance 2: $4,148.
Resistance 1: $4,138.
Support 1: $4,118.
Support 2: $4,108.
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