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Indonesia News Portal for Traders | Financial & Business Updates

28 November 2024 17:20  |

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

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