Gold Rises Slightly, Market Monitors Hormuz and Interest Rate Direction
Gold prices strengthened to US$4,837/ounce as optimism over US-Iran diplomacy eased inflation concerns, although risks from the Strait of Hormuz continued to weigh on sentiment.
However, gold's potential for upside is considered limited as the market still expects the Fed to hold interest rates, while volatility and the need for liquidity could further pressure prices. Meanwhile, gold ETF flows have begun to recover after selling pressure at the start of the conflict. (asd)
Gold Price at the Time of This Analysis' Release: $4,821
- Buy if the price moves to $4,825
- Sell if the price moves to $4,812
Resistance 2: $4,844
Resistance 1: $4,831
Support 1: $4,805
Support 2: $4,792
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