Why Does Gold Resist Falling? Here's the Secret
Gold remains a sought-after safe-haven asset during times of heightened economic and geopolitical uncertainty. Factors such as political threats to the Federal Reserve, global inflation, and tensions in the Middle East are driving investors to gold as a store of value, supporting the price of this precious metal despite short-term technical corrections.
Furthermore, low interest rates and a weakening US dollar make gold more attractive compared to interest-bearing assets, as the opportunity cost of holding gold is relatively low. Physical demand from jewelry, industry, and investment, coupled with capital flows into gold ETFs, also support the medium- to long-term fundamentals of gold prices. (az)
The price of gold at the time of this analysis was $4,584
- Buy if the price is at $4,591
- Sell if the price is at $4,577
Resistance 2: $4,605
Resistance 1: $4,598
Support 1: $4,570
Support 2: $4,463
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