Gold Retraces Below $2,720 Amid Mixed Fundamental Cues
Gold (XAU/USD) prices reversed losses in the Asian trading session although they remain below the highest level in more than a month reached on Thursday (12/12). US consumer inflation data released on Wednesday reaffirmed bets that the Federal Reserve (Fed) will deliver a third straight interest rate cut next week. Moreover, persistent geopolitical risks stemming from the Russia-Ukraine war and conflicts in the Middle East, along with concerns about US President-elect Donald Trump’s upcoming trade tariffs, continue to act as a tailwind for the safe-haven precious metal.
As of this news release Gold is at $2,716
RECOMMENDATION
- Buy if price moves at least to $2,700
- Sell if price moves at least around $2,725
Resistance Level 2: $2,735
Resistance Level 1: $2,725
Support Level 1: $2,700
Support Level 2: $2,685
DISCLAIMER
Note: This article is only an analysis and not a definitive reference, Observe the development of fundamental and technical aspects in transactions before making investment decisions.
Source: Newsmaker.id