Gold Regains Strength in Europe
Gold prices regained strength in Europe on Thursday. Prices have now stabilized after a sharp decline earlier in the session due to a stronger dollar and US markets being closed for Thanksgiving.
The decline reflects a recalibration of the geopolitical risk premium embedded in gold prices, with a ceasefire agreement between Lebanon and Israel easing tensions and lowering safe-haven demand.
Despite the decline, the precious metal remains supported by strong buying interest at lower levels.
RECOMMENDATIONS
- Buy if price moves at least $2,651
- Sell if price moves at least around $2,641
Resistance Level 2: $2,664
Resistance Level 1: $2,657
Support Level 1: $2,635
Support Level 2: $2,628
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