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 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

22 November 2024 14:46  |

Gold Prices Continue to Shine

Gold prices (XAU/USD) continued to maintain strong gains during the early European session and are currently trading near a two-week high, just below the $2700 level.

Ongoing geopolitical risks due to the worsening Russia-Ukraine conflict helped the safe-haven precious metal extend its weekly uptrend for the fifth straight day.

In addition, expectations that US President-elect Donald Trump’s expansionary policies could reignite inflationary pressures turned out to be another factor that benefited the commodity, which is considered a hedge against inflation.

Gold prices at the time of this news release were at $2693/ Toz.

Recommendations:

- Buy if the price moves at least at the $2698 level

- Sell if the price moves at least around the $2688 level

Resistance Level 2: $2708

Resistance Level 1: $2703

 

Support Level 1: $2683

Support Level 2: $2678

DISCLAIMER

Note: This article is only an analysis and not a definitive reference. Keep an eye on the development of fundamental and technical aspects in transactions before making investment decisions.

Source: Newsmaker.id

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