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Indonesia News Portal for Traders | Financial & Business Updates

4 December 2024 08:34  |

Gold Prices Steady in Asia Morning Session

Gold bullion prices pared earlier gains as "JOLTS data confirmed our expectations for a rebound in the jobs market, alleviating concerns of a significant slowdown in the labor market ahead of Friday's nonfarm payrolls report," said Daniel Ghali, commodity strategist at TD Securities.

A strong jobs report could prompt the Fed to take a cautious stance on cutting interest rates. Investors' focus shifts to the ADP jobs report and Fed Chair Jerome Powell's speech on Wednesday, ahead of Friday's payrolls report.

RECOMMENDATION

- Buy if price moves to at least $2644

- Sell if price moves to at least around $2634

Resistance Level 2: $2658

Resistance Level 1: $2651

 

Support Level 1: $2627

Support Level 2: $2620

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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