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