Gold Regains Strength After Weak US Data
Gold prices strengthened again on Wednesday (November 19th) as investors sought safe-haven assets amid worsening risk sentiment. This increase was supported by weak US economic data, particularly labor market indicators, leading the market to re-increase expectations that the Federal Reserve will cut interest rates in December. The prospect of lower interest rates pressured US bond yields and bolstered the appeal of non-coupon gold.(alg)
The gold price at the time of this analysis was released was $4,079
- Buy if the price moves within $4,084
- Sell if the price moves within $4,074
Resistance 2: $4,098
Resistance 1: $4,091
Support 1: $4,067
Support 2: $4,060
Disclaimer:
This article is analytical in nature and does not constitute a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id