Gold Strengthens, Market Awaits Key US Data
Gold prices rose on Wednesday (February 11th) due to a classic combination: a weaker US dollar and lower US bond yields, making gold more attractive (as the opportunity cost of holding gold decreases). The main driver came from weaker US core retail sales data, which reinforced market confidence that the economy is cooling and that expectations of a Fed rate cut in 2026 remain alive—this is usually a catalyst for gold.
In addition to interest rates, safe-haven sentiment also fueled the market's continued vigilance as geopolitical tensions (US-Iran), while market participants are now focused on the release of US Non-Farm Payrolls data as a key indicator of the next direction: if employment data weakens, the chances of an interest rate cut increase and gold tends to strengthen.
The gold price at the time of this analysis is $5,101
- Buy if the price moves below $5,113
- Sell if the price moves below $5,087
Resistance 2: $5,149
Resistance 1: $5,123
Support 1: $5,071
Support 2: $5,045
Disclaimer
This article is analytical in nature and is not a definitive reference. Please consider the influence of fundamental and technical developments on trading before making any investment decisions.
Source: Newsmaker.id
