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Indonesia News Portal for Traders | Financial & Business Updates

30 December 2024 07:19  |

Gold Slightly Up in Asia Session

Gold prices started the Asian session with a slight increase after previously closing lower on Friday. The increase occurred as the market anticipated signals from the US economy and the Fed's interest rate outlook for 2025 after the PCE data came in below expectations. Israel's attack on Yemen is also one of the factors driving gold at this time.

Gold, a non-yielding asset, gained traction as the below-forecast US PCE inflation data raised expectations for a limited Fed interest rate cut next year, hinting at the possibility of more cuts.

RECOMMENDATION

- Buy if the price moves to around $2,629

- Sell if the price moves to around $2,619

 

Resistance Level 2: $2,638

Resistance Level 1: $2,631

 

Support Level 1: $2,618

Support Level 2: $2,610

 

DISCLAIMER

Note: This article is only an analysis and is not a definitive reference. Pay attention to the development of fundamental and technical aspects in transactions before making investment decisions.

Source: Newsmaker.id

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