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Indonesia News Portal for Traders | Financial & Business Updates

19 December 2024 07:59  |

Gold Falls Sharply After Interest Rate Cut

Gold is in the $2594 area, This level is included in the negative level at the beginning of Thursday (12/19). This is because traders consider the outlook for interest rates after the Federal Reserve signaled caution over the path of easing next year.

The US central bank cut interest rates for the third time in a row, but controlled the number of reductions expected in 2025. Fed Chairman Jerome Powell told reporters that while the bank is "on track to continue cutting," officials must first see more progress on inflation.

RECOMMENDATION

- Buy if the price moves to at least $2599

- Sell if the price moves to at least around $2589

 

Resistance Level 2: $2606

Resistance Level 1: $2599

 

Support Level 1: $2589

Support Level 2: $2582

DISCLAIMER

Note: This article is only an analysis and is not a definitive reference. Pay attention to the development of fundamental and technical aspects in transactions before making investment decisions.

Source: Newsmaker.id

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