Gold Stable, Middle East Tensions Maintain Safe-Haven Interest
Gold prices are stable, but buyers are still in control of the overall direction. Tensions in the Middle East are keeping investors focused on safe-haven assets, so gold is unlikely to fall easily, despite its calmer movement today.
Risk-off sentiment remains strong as the conflict involving the US, Israel, and Iran raises concerns about a broader escalation. The market is also focusing on the risk of energy supply disruptions, which is increasing volatility and driving demand for safe-haven assets, including gold.
The gold price at the time of this analysis is $5,398
- Buy if the price moves below $5,393
- Sell if the price moves below $5,405
Resistance 2: $5,415
Resistance 1: $5,408
Support 1: $5,390
Support 2: $5,380
Disclaimer
This article is analytical in nature and is not a definitive reference. Please consider the impact of fundamental and technical developments on trading before making any investment decisions.
Source: Newsmaker.id
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