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