Nothing Can Stop Gold's Rise!
Gold hit a record high and held around $4,962/oz after the dollar weakened; the Bloomberg Dollar Spot Index fell 0.3% after US data showed the economy remained strong, but jobless claims rose slightly. Silver also reached a record high at $96.80/oz, while platinum and palladium strengthened.
The bias remains bullish as long as the dollar and yields don't rebound, but a rally this sharp is vulnerable to profit-taking—monitor the direction of the dollar/yield for further confirmation or consolidation. (asd)
Gold price at the time of this analysis was $4,962
- Buy if the price is at $4,968
- Sell if the price is at $4,938
Resistance 2: $5,009
Resistance 1: $4,979
Support 1: $4,919
Support 2: $4,889
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