Gold Under Pressure, Amid Market Caution
Gold prices are currently moving lower on Tuesday (December 16th). Pressure stems from profit-taking after previous gains, as well as market adjustments ahead of the release of important economic data. This has led some market participants to hold back or shift to other instruments deemed more attractive in the short term.
From a fundamental perspective, the relatively stable US dollar and expectations of central bank policy also weigh on gold. With the prospect of interest rate cuts still unclear, gold's appeal as a hedge is diminished. As long as market sentiment remains cautious and there are no new triggers, gold prices have the potential to remain under pressure. (alg)
The gold price at the time of this analysis was released was at $4,287
- Buy if the price is at $4,294
- Sell if the price is at $4,280
Resistance 2: $4,306
Resistance 1: $4,301
Support 1: $4,273
Support 2: $4,268
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
