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 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

13 December 2024 22:18  |

Gold retreats with the Dollar buoyed by hopes of gradual Fed easing

Gold (XAU/USD) has given away earlier gains and is trading lower for the second consecutive day during us session. The US Dollar (USD) maintains its bullish tone, supported by rising US Treasury yields, which keeps the precious metal under pressure.

Recent US data is showing a resilient US economy with inflation picking up. Donald Trump’s high tariffs for imports and restricted immigration are expected to lift consumer prices, forcing the (Fed) to approach cautiously with monetary easing next year.

As of this writing,Gold is at $2,657

 

RECOMMENDATION

- Buy if price moves to at least $2,650

- Sell if price moves to at least around $2,665

 

Resistance Level 2: $2,775

Resistance Level 1: $2,665

 

Support Level 1: $2,650

Support Level 2: $2,640

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

 

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