Gold Prices Down Amid Thin Trading, Dollar Up
Gold prices fell in midday U.S. trading on Monday, but prices remained in a relatively narrow range amid low holiday volumes.
Gold prices were down about 0.1%. The precious metal has rallied strongly in 2024 and is up more than 20% so far this year amid rising geopolitical tensions.
However, prices have been relatively flat since early November. This likely reflects a combination of a stronger U.S. dollar and Treasury yields, and easing tensions in the Middle East.
RECOMMENDATION
- Buy if price moves to around $2,602
- Sell if price moves to around $2,592
Resistance Level 2: $2,617
Resistance Level 1: $2,609
Support Level 1: $2,585
Support Level 2: $2,577
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