Oil Rises, Gold Holds!
Gold held steady in the Asian session on Monday (May 18th), held back by the dollar and persistently high US yields as markets maintained expectations of a hawkish Fed stance to curb inflation risks.
However, downside was limited as geopolitical risk premiums and rising oil prices kept inflation concerns and hedge demand at bay; the next focus is on Iran-Hormuz developments and Fed policy signals. (asd)
Gold Price at the Time of This Analysis' Release: $4,536
- Buy if the price moves to $4,557
- Sell if the price moves to $4,527
Resistance 2: $4,605
Resistance 1: $4,575
Support 1: $4,515
Support 2: $4,485
Note: 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