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 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

28 November 2024 08:25  |

Gold Prices Drop Again After Inflation Data Release

Gold was steady for a second day, as investors weighed the outlook for U.S. interest rates following inflation data that supported the case for a rate cut next month.

Bullion was near $2,625 an ounce, with pressure on the metal easing as the U.S. dollar rally lost steam. The U.S. dollar, which strengthened after President-elect Donald Trump’s victory, has weakened this week against other currencies amid month-end flows. A stronger dollar makes the metal more expensive for many buyers.

RECOMMENDATIONS

- Buy if price moves at least $2,630

- Sell if price moves at least around $2,620

Resistance Level 2: $2,644

Resistance Level 1: $2,637

 

Support Level 1: $2,613

Support Level 2: $2,606

DISCLAIMER

Note: This article is analysis only and is not a definitive reference. Pay attention to developments in fundamental and technical aspects of trading before making investment decisions.

Source: newsmaker.id

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