Gold Rises, On Track for Biggest Gain Since 2010
Gold prices were on track for a more than 26% annual gain on Tuesday, their biggest annual gain since 2010, driven by safe-haven demand and central bank interest rate cuts, though sentiment could turn more cautious depending on policy changes under a second Trump administration.
Robust central bank buying, geopolitical uncertainty and monetary policy easing fueled a record-breaking rally in safe-haven gold in 2024, pushing it to an all-time high of $2,790.15 on Oct. 31.
RECOMMENDATION
- Buy if price moves to around $2628
- Sell if price moves to around $2618
Resistance Level 2: $2643
Resistance Level 1: $2635
Support Level 1: $2611
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