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Indonesia News Portal for Traders | Financial & Business Updates

29 November 2024 16:48  |

Gold Rises as Dollar Weakens, Safe-Haven Demand Rises

Gold rose in European trading on Friday as the dollar weakened and geopolitical concerns continued to mount. The precious metal gained on safe-haven demand amid the escalating Russia-Ukraine conflict.

However, prices continued to be weighed down by the dollar’s ​​continued strength. The metal is down 3.5% in a month. Donald Trump’s victory in the U.S. presidential election in early November sparked a selloff as investors took profits and liquidated hedged positions.

RECOMMENDATION

- Buy if the price moves at least to $2,662

- Sell if the price moves at least around $2,652

Resistance Level 2: $2,676

Resistance Level 1: $2,668

 

Support Level 1: $2,646

Support Level 2: $2,638

DISCLAIMER

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

Source: newsmaker.id

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