Gold Steady In Asia
Gold (XAU/USD) prices moved lower amid quiet trading after the Christmas holiday, trading near $2,630 during the Asian session on Friday(12/27).
However, safe haven assets may find upside support as markets anticipate signals on the US economy under the incoming Trump administration and the Federal Reserve's (Fed) interest rate outlook for 2025.
Gold, a non-yielding asset, gained traction as modest US PCE inflation data challenged expectations of limited Fed rate cuts next year, hinting at the possibility of more cuts
RECOMMENDATION
- Buy if price moves to at least $2,639
- Sell if price moves to at least around $2,625
Resistance Level 2: $2,649
Resistance Level 1: $2,644
Support Level 1: $2,620
Support Level 2: $2,615
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 an investment decision.
Source: Newsmaker.id