Gold Rises, Investors See Increased Interest
Gold prices strengthened in the early Asian session, with spot gold rising around 0.6% to around US$4,102.58 per troy ounce. This increase was supported by increased investment interest, after data on institutional holdings in large gold ETFs showed more companies adding to their gold positions.
TD Securities also believes the trend of gold buying by central banks will continue in the long term. The combination of institutional investors and central banks makes gold attractive as a safe haven asset amid global uncertainty.
The gold price at the time of this analysis was released was $4,104
- Buy if the price moves below $4,114
- Sell if the price moves below $4,094
Resistance 2: $4126
Resistance 1: $4115
Support 1: $4086
Support 2: $4068
Disclaimer:
This article is analytical in nature and does not constitute definitive information. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id