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