Gold Prices Reversal Down Ahead of US Data
Gold prices fell in recent trading as investors opted to take profits after the previous rally, while awaiting confirmation from US economic data.
The market's focus is now on the release of employment data, which is expected to determine the direction of the Fed's interest rate policy. Therefore, interest in buying gold tends to be restrained, despite still-high geopolitical tensions.
The gold price at the time of this analysis was $4,443
- Buy if the price is at $4,450
- Sell if the price is at $4,436
Resistance 2: $4,464
Resistance 1: $4,457
Support 1: $4,429
Support 2: $4,422
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