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Indonesia News Portal for Traders | Financial & Business Updates

31 December 2024 15:54  |

Gold Prices Slightly Strengthen

Gold prices moved slightly up in European trading on Tuesday (12/31).

Marking its strongest annual performance since 2010 with a 26% increase for 2024. The surge was driven by US monetary easing, ongoing geopolitical tensions, and record central bank purchases. Gold prices started trading in Asia this morning at $2607/Toz.

Looking ahead to 2025, investors weighed the impact of US monetary policy uncertainty, potential challenges under the Trump presidency, and China's push for economic recovery. Notably, gold's rise occurred despite a stronger US dollar and higher Treasury yields, which are usually headwinds to its growth.

RECOMMENDATION

- Buy if price moves to around $2620

- Sell if price moves to around $2610

 

Resistance Level 2: $2627

Resistance Level 1: $2620

 

Support Level 1: $2610

Support Level 2: $2603

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

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