Gold Steady Ahead of US Data
Gold prices were steady during the Asian session on Friday (3/1) on the back of a weaker US dollar and safe-haven inflows, with the precious metal heading for a weekly gain as attention turns to proposed policy changes by US President-elect Donald Trump that could affect the economic outlook and interest rates going forward.
Russia also launched another drone strike on Kyiv early Wednesday, causing damage in at least two districts. Traders are looking ahead to 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 $2657
- Sell if the price moves to around $2647
Resistance Level 2: $2664
Resistance Level 1: $2657
Support Level 1: $2647
Support Level 2: $2640
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