Gold Recovers
Gold (XAU/USD) price extended its solid intraday recovery from a one-month low and rose to a fresh intraday high, around the $2,622 area during the early European session on Thursday (19/12).
Global risk sentiment deteriorated in reaction to the Federal Reserve's (Fed) hawkish interest rate cut on Wednesday.
This, along with geopolitical risks and trade war fears, turned out to be the main factors driving safe-haven inflows towards the precious metal.
RECOMMENDATION
- Buy if price moves to a minimum of $2623
- Sell if price moves to a minimum of around $2613
Resistance Level 2: $2637
Resistance Level 1: $2630
Support Level 1: $2606
Support Level 2: $2599
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in the transaction before making investment decisions.
Source: Newsmaker.id