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Indonesia News Portal for Traders | Financial & Business Updates

29 November 2024 08:21  |

Gold Steady as US Thanksgiving Holiday

Gold was steady amid thin trading due to the US Thanksgiving holiday, with investors weighing the prospect of a Federal Reserve interest rate cut and rising tensions in Ukraine.

Bullion traded near $2,640 an ounce on Friday and fell about 3% for the week after a ceasefire between Israel and Hezbollah reduced some demand for the safe-haven asset. Swap markets are pricing in a more than 60% chance the Fed will cut borrowing costs again next month.

RECOMMENDATION

- Buy if price moves to at least $2,647

- Sell if price moves to at least around $2,637

Resistance Level 2: $2,661

Resistance Level 1: $2,654

 

Support Level 1: $2,630

Support Level 2: $2,623

DISCLAIMER

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

Source: newsmaker.id

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