Gold Prices Weaken at the Start of the Week
Gold prices (XAU/USD) weakened at the start of the week, in the Asian trading session on Monday (2/12). This was due to pressure from the strengthening dollar and profit taking, while investors await key US economic data as a signal regarding the Federal Reserve's monetary policy outlook.
This week, key US economic data will be released that could influence market expectations regarding monetary policy. Among the most significant reports are US job openings, the ADP employment report, and the nonfarm payrolls report. In addition to these data points, several Federal Reserve officials, including Fed Chair Jerome Powell, are scheduled to speak. RECOMMENDATION
- Buy if price moves at least to $2634
- Sell if price moves at least around $2624
Resistance Level 2: $2641
Resistance Level 1: $2634
Support Level 1: $2624
Support Level 2: $2617
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in trading before making investment decisions.
Source: newsmaker.id