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