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 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

2 January 2025 15:11  |

Gold Rises Ahead of US Data

Gold edged higher after posting its biggest speculative gain since 2010, with traders pricing in the prospect of slower monetary easing by the Federal Reserve in 2025.

"Despite the Fed's cautious tone, continued central bank buying and geopolitical uncertainties are expected to keep gold in focus as a preferred safe-haven asset," Kaynat Chainwala, an analyst at Kotak Securities, wrote in a note.

RECOMMENDATION

- Buy if price moves to around $2,643

- Sell if price moves to around $2,629

Resistance Level 2: $2,653

Resistance Level 1: $2,648

 

Support Level 1: $2,624

Support Level 2: $2,619

DISCLAIMER

Note: This article is only an analysis and is not a definitive reference. Please pay attention to the developments in the fundamental and technical aspects of the transaction before making any investment decisions.

Source: Newsmaker

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