Gold Prices Down as Rate Cut Confidence Eases
Gold (XAU/USD) fell after an intraday rally and fell to a new daily low on Friday. More Federal Reserve (Fed) policymakers signaled caution regarding further easing amid a lack of economic data, prompting traders to speculate that another rate cut in December is becoming increasingly unlikely.
At the time of this analysis, gold was at $4,179.
Buy if the price is above $4,175.
Sell if the price is above $4,185.
Resistance 2: $4,195.
Resistance 1: $4,188.
Support 1: $4,170.
Support 2: $4,163.
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