Gold Strengthens Again, Here's Why!
Gold prices rose on Monday (December 15) as the US dollar weakened and US bond yields fell, making gold (a non-interest-bearing asset) more attractive. Fundamentally, market participants are pricing in the prospect of lower interest rates after the Fed recently cut rates by 25 basis points.
Meanwhile, the next focus will be on the release of US data (especially Non-Farm Payrolls). If employment data is weak, expectations of further easing will usually grow, which could be an additional boost for gold. (alg)
The gold price at the time of this analysis was released was at $4,345
- Buy if the price is at $4,352
- Sell if the price is at $4,338
Resistance 2: $4,364
Resistance 1: $4,359
Support 1: $4,331
Support 2: $4,326
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