Market Analyst: Gold Remains Unstable, US$4,100 Level a Confirmation Limit for Rebound
Gold prices fluctuated near US$4,000 per ounce on Tuesday, as the market monitored tensions between the United States and Iran ahead of planned talks in Doha. Spot gold rose 0.4% to around US$4,030 per ounce after falling sharply in early Asian trading. However, uncertainty remains high as Iran rejects direct talks and continues to monitor traffic in the Strait of Hormuz.
Gold remains under pressure as expectations of higher interest rates from the Fed have not fully subsided, despite falling oil prices. This situation is a drag on non-yielding gold. (asd)
Gold Price at the Time of This Analysis' Release: $4,033
- Buy if the price moves to $4,036
- Sell if the price moves to $4,025
Resistance 2: $4,051
Resistance 1: $4,040
Support 1: $4,018
Support 2: $4,007
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