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Indonesia News Portal for Traders | Financial & Business Updates

30 December 2024 23:48  |

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

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