Gold Fluctuates! Where's the Asian Session Heading?
Gold prices edged up to around $4,084/oz after two days of declines of more than 3%. This occurred amid diminishing expectations for a Fed rate cut next month, as several US central bank officials signaled they were unsure about further rate cuts.
Although interest rates could remain high in the short term, gold is still supported by expectations that the Fed will increase liquidity through Treasury bill purchases and gradually move towards a more lenient policy. This maintains interest in gold, while the movement of other precious metals such as silver, platinum and palladium is relatively flat. (Asd)
At the time of this analysis, gold was at $4,084
Buy if the price is above $4,094
Sell if the price is above $4,074
Resistance 2: $4,116
Resistance 1: $4,106
Support 1: $4,064
Support 2: $4,054
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
