Gold Boosted by Safe Haven Demand
Gold opened with gains after closing at its highest level in two weeks yesterday, driven by safe haven buying. The boost also came from geopolitical factors, where on Wednesday yesterday Israel again attacked the Gaza outskirts.
Russia also launched another drone attack on Kyiv on Wednesday morning, causing damage in at least two districts. Traders are waiting for next week's US jobs data, the ADP employment report, the Fed's December FOMC meeting minutes, and the US employment report to gauge the outlook for interest rates for 2025.
RECOMMENDATION
- Buy if the price moves to around $2665
- Sell if the price moves to around $2655
Resistance Level 2: $2685
Resistance Level 1: $2671
Support Level 1: $2650
Support Level 2: $2642
DISCLAIMER
Note: This article is only an analysis and is not a definitive reference. Pay attention to the development of fundamental and technical aspects in transactions before making investment decisions.
Source: Newsmaker