Gold Prices Jump on Safe-Haven Demand, Falling Yields
Gold hit a two-week high on Thursday, boosted by safe-haven buying and a decline in U.S. Treasury yields, as markets positioned for the prospect of looming Federal Reserve interest rates and President-elect Donald Trump’s trade tariffs.
Bullion thrives in a low-interest environment and acts as a hedge against economic and geopolitical risks.
Russia launched a drone strike in Kyiv early Wednesday, causing damage in at least two districts, while the Israeli military struck the outskirts of Gaza City.
Until this news was released, Gold was at $ 2,660
RECOMMENDATION
- Buy if the price moves to around $ 2,650
- Sell if the price moves to around $ 2,670
Resistance Level 2: $ 2,680
Resistance Level 1: $ 2,670
Support Level 1: $ 2,650
Support Level 2: $ 2,640
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