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Indonesia News Portal for Traders | Financial & Business Updates

25 November 2024 20:27  |

Gold Still Struggling to Get Out of the $2680 Area

Gold prices are still trading stably in the 2680 area after previously experiencing a decline of up to 2%. After achieving a solid increase last week, today gold experienced a steep decline as Scott Bessent was appointed as the new US Treasury Secretary by Donald Trump who is expected to support Trump's policies.

Two factors weighing on gold prices include profit-taking after last week's solid rally, and the appointment of Scott Bessent as the next US Treasury Secretary with some market players seeing him as less negative towards the trade war,

Gold is currently trading at $ 2684 or down around 1.1%

RECOMMENDATION

- Buy if the price moves at least at the $ 2689 level

- Sell if the price is at least around the $ 2679 level

Resistance Level 2: $ 2703

Resistance Level 1: $ 2694

 

Support Level 1: $ 2677

Support Level 2: $ 2664

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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