Gold Prices Steady Ahead of Christmas
Gold has been steady in quiet holiday trading but a stronger dollar is still weighing on the market, Pranav Mer, an analyst at JM Financial Services Ltd. in Mumbai, said in a note on Tuesday.
Earlier this month, the Fed reined in the number of interest rate cuts it expects in 2025 as Chairman Jerome Powell made clear that the central bank needs to see price pressures ease further. Lower borrowing costs are usually a positive for the precious metal, which pays no interest.
RECOMMENDATIONS
- Buy if price moves to at least $2,620
- Sell if price moves to at least around $2,610
Resistance Level 2: $2,627
Resistance Level 1: $2,620
Support Level 1: $2,610
Support Level 2: $2,603
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to fundamental and technical developments in the transaction before making investment decisions.
Source: Newsmaker.id