Gold Maintains Momentum
Gold held steady above US$4,703 per ounce after a sharp surge, supported by falling oil prices, a weaker US dollar, and hopes for a US-Iran peace deal. The weakening energy market also eased inflation and suppressed bond yields.
However, the market remains cautious as Iran continues to submit proposals to the US and the geopolitical situation remains uncertain. Gold's future direction remains dependent on developments in the peace deal, the US dollar, yields, and the Fed's policy signals. (asd)
Gold Price at the Time of Release of This Analysis Was at $4,706
- Buy if the price moves to $4,724
- Sell if the price moves to $4,693
Resistance 2: $4,769
Resistance 1: $4,737
Support 1: $4,673
Support 2: $4,641
Caution: This article is analytical in nature and not a definitive reference. Please consider the impact of fundamental and technical developments on trading before making any investment decisions.
Source: Newsmaker.id