Gold Resilient, Defensive Mode Active
Gold remains strong and holding above $5,200, with gold futures trading at around $5,237/oz in the Asian session, buoyed by persistent protective sentiment. The "flight to safety" sentiment remains strong, especially as markets see geopolitical tensions and US trade policy returning to the forefront—making gold a viable option for safe-haven capital during times of uncertainty about risk appetite.
From a fundamental perspective, the biggest driver remains the weakening dollar (the DXY is also under pressure), which automatically makes gold feel "cheaper" to non-USD buyers and keeps demand strong. At the same time, the market is holding its breath ahead of the Fed's decision—consensus still points to interest rates remaining within the current range, but the focus is on Powell's tone (and the issue of central bank independence) as this could alter expectations for liquidity and the direction of interest rates going forward.
The gold price at the time of this analysis was $5,237
- Buy if the price is at $5,243
- Sell if the price is at $5,210
Resistance 2: $5,288
Resistance 1: $5,255
Support 1: $5,289
Support 2: $5,256
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
