Gold Prices Steady Ahead of Year-End Holidays
Gold rose above $2,610 an ounce on Tuesday, recovering losses from the previous session amid sluggish holiday trading. Investors continued to assess the Federal Reserve’s outlook for next year, pricing in a slower pace of interest rate hikes in 2025 after the Fed signaled fewer tapers. However, this view was challenged by weaker-than-expected U.S. PCE inflation, which suggested more rate cuts are likely, benefiting non-yielding bullion. Meanwhile, the World Gold Council reported strong central bank demand, reinforcing gold’s status as a safe-haven asset.
Until this news was released, the Gold Price was at $ 2,615
RECOMMENDATION
- Buy if the price moves to at least $ 2,605
- Sell if the price moves to at least around $ 2,625
Resistance Level 2: $ 2,635
Resistance Level 1: $ 2,625
Support Level 1: $ 2,605
Support Level 2: $ 2,595
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