Gold Prices Hit New Highs
Gold prices continued to surge to a new high of $2,700 as the escalating Russia-Ukraine conflict boosted its appeal as a safe-haven asset, with traders also weighing the prospect of further easing by the Federal Reserve.
Traders also weighed comments from Chicago Fed Bank President Austan Goolsbee, who said he sees interest rates moving “a little lower,” and expressed confidence that inflation is easing closer to the central bank’s target. Lower interest rates typically benefit bullion because it does not pay interest.
RECOMMENDATIONS
- Buy if the price moves at least above $2,712
- Sell if the price moves at least around $2,702
Resistance Level 2: $2,719
Resistance Level 1: $2,712
Support Level 1: $2,702
Support Level 2: $2,695
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Always pay attention to developments in fundamental and technical aspects of trading before making investment decisions. Source: newsmaker.id
