This Turns Out to Be What Determines Gold Prices!
Gold prices weakened slightly, around 0.21% in the latest trading session, hovering around $4,487. This pressure arose as investors began holding positions while awaiting the direction of US interest rate policy and economic data. Although the decline was relatively small, this movement indicates the market is in a consolidation phase after previous high volatility.
Analysts believe gold's weakening is driven more by investor caution than by a major shift in sentiment. As long as global uncertainty and expectations of interest rate cuts persist, gold remains attractive as a hedge. However, in the short term, the movement has the potential to fluctuate while waiting for the next strong catalyst. (asd)
The gold price at the time of this analysis was $4,487
- Buy if the price is at $4,496
- Sell if the price is at $4,484
Resistance 2: $4,513
Resistance 1: $4,501
Support 1: $4,477
Support 2: $4,465
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
