Gold Remains in the Red
Gold (XAU/USD) traded with a negative bias below the $4,700 level for two consecutive days and re-approached last week's swing low during the Asian trading session on Tuesday.
Uncertainty regarding the second round of US-Iran peace talks helped the US Dollar (USD) attract some buyers, which in turn weighed on the commodity.
However, expectations for a less hawkish US Federal Reserve (The Fed) could limit the decline of the non-yielding precious metal ahead of key central bank events.
Gold Price at the Time of This Analysis' Release was at $4,667
- Buy if the price moves to $4,660
- Sell if the price moves to $4,775
Resistance 2: $4,800
Resistance 1: $4,783
Support 1: $4,655
Support 2: $4,635
Note: 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