Gold is slowing down for now, here's what to expect!
Gold is trading steadily around $4,070 per troy ounce after the release of mixed US employment data. September job growth was stronger than expected, but unemployment also rose, so the signal isn't entirely bullish or bearish for the economy.
For the market, this figure isn't strong enough to force the Fed to immediately cut interest rates in December. As a result, gold is likely to move sideways for now: held back by still-high interest rates, but still viewed as a safe haven amid signs of an economic slowdown. (asd)
Gold price at the time of this analysis was released was $4,073
- Buy if the price moves around $4,083
- Sell if the price moves around $4,063
Resistance 2: $4102
Resistance 1: $4089
Support 1: $4060
Support 2: $4044
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