Gold Calm, But Ready to Chase Another Record?
In the morning session in Singapore, gold prices were recorded as having risen 0.7% to $4,187 per ounce, while the Bloomberg Dollar Spot Index was flat, indicating no significant pressure from the strengthening dollar.
Gold prices were stable but remained on track to rise for the fourth consecutive month. In Asian trading on Friday (November 28th) morning, positive sentiment stemmed from expectations that the Federal Reserve would cut interest rates next month. Comments from several Fed officials and the delayed release of economic data have made the market increasingly confident that borrowing costs will fall.
The price of gold at the time of this analysis was $4,187
- Buy if the price moves within the $4,192 range
- Sell if the price moves within the $4,182 range
Resistance 2: $4,215
Resistance 1: $4,195
Support 1: $4,167
Support 2: $4,155
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
