Gold Holds at $2600
Gold is currently around $2600, after falling in the trading session on December 18th. Gold is still trying to reach the high of $2626 reached the day before after the Fed's decision. This week gold is still in a downtrend.
The Fed signaled a more cautious approach to further easing in its release on Wednesday, with dot plot projections showing only two rate cuts next year and the latest US GDP data also highlighted the economy's resilience, and consumer spending was revised up, supporting the case for slower easing.
So far this year gold has jumped about 25%, driven by US monetary easing, safe haven demand, and central bank buying.
RECOMMENDATION
- Buy if the price moves to a minimum of $2614
- Sell if the price moves to a minimum of around $2592
Resistance Level 2: $2612
Resistance Level 1: $2606
Support Level 1: $2592
Support Level 2: $2584
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in transactions before making investment decisions.
Source: Newsmaker.id