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Indonesia News Portal for Traders | Financial & Business Updates

18 November 2024 16:23  |

Gold Still Not Daring to Touch the Level of $2600

Gold prices are still stable around $2586 per troy ounce in the European session on Monday. Until now, gold has only been able to touch its highest area of ​​$2590.

Concerns about increasing geopolitical tensions, along with the weakening US Dollar (USD), turned out to be the main factors that acted as a driver for the precious metal which became a safe haven. However, expectations of a less dovish Federal Reserve (Fed) limited the increase in the yellow metal which did not produce unbalanced results.

The price of Gold when this news was released was +1.00% and was at the level of $2586 Toz.

Recommendation:

- Buy if the minimum price moves at the level of $2591

- Sell if the minimum price is around the level of $2581

Resistance Level 2: $2598

Resistance Level 1: $2591

 

Support Level 1: $2581

Support Level 2: $2574

DISCLAIMER

Note: This article is only an analysis, not a definite reference. Always pay attention to the development of fundamental and technical aspects in transactions before making investment decisions.

Source: newsmaker.id

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