Gold Stagnates Again
Gold stagnated on Thursday morning, recovering from a more than one-week low hit in the previous session, as the dollar weakened, but pared earlier gains after data showed inflation progress stalled, suggesting the U.S. Federal Reserve may be cautious about cutting interest rates further.
Spot gold rose 0.4% to $2,641.34 an ounce. U.S. gold futures rose 0.7% to $2,640.60.
As of press time, gold was at $2,639
RECOMMENDATION
- Buy if price moves to at least $2,635
- Sell if price moves around at least $2,645
Resistance Level 2: $2,650
Resistance Level 1: $2,645
Support Level 1: $2,635
Support Level 2: $2,630
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in transactions before making investment decisions.
Source: newsmaker.id