Gold Corrects Amid Market Uncertainty
Gold prices weakened in recent trading, pressured by a strengthening US dollar and rising US government bond yields, as investors digested the latest economic data from the United States. Market sentiment also tended to be cautious ahead of the release of several important economic data, prompting market participants to reduce positions in safe-haven assets.
Nevertheless, gold's weakness is considered limited as global uncertainty and geopolitical risks remain supporting factors. Investors are now awaiting further signals regarding the direction of the Fed's interest rate policy, with gold's movement expected to remain volatile in the short term.
The gold price at the time of this analysis was $4,428
- Buy if the price is at $4,435
- Sell if the price is at $4,421
Resistance 2: $4,447
Resistance 1: $4,442
Support 1: $4,414
Support 2: $4,407
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.(alg)
Source: Newsmaker.id