Gold Falls Slightly, Market Remains Cautious
Gold prices weakened slightly after surging the previous day and hitting a record high. This decline is considered normal as investors begin to take profits following the sharp rally. However, downward pressure is expected to be limited as global geopolitical risks remain high and continue to maintain gold's appeal as a safe-haven asset.
The latest tensions stem from Greenland, after Denmark sent additional troops and US President Donald Trump's harsh statements sparked market concerns. Analysts believe any new turmoil tends to immediately stimulate buying in gold and silver. Currently, spot gold is down 0.1% at $4,666.28 per ounce, while silver is down 0.4% at $93.96 per ounce. (az)
The price of gold at the time of this analysis was $4,681
- Buy if the price is at $4,688
- Sell if the price is at $4,674
Resistance 2: $4,702
Resistance 1: $4,695
Support 1: $4,667
Support 2: $4,660
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