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 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

4 January 2025 01:40  |

Gold holds on to gains after Manufacturing PMI data

Gold (XAU/USD) prices moved higher in the European session on Friday ahead of the United States (US) ISM Manufacturing Purchasing Managers’ Index (PMI) data for December, due to be released at 15:00 GMT. The Manufacturing PMI was seen steady at 48.4, indicating that activity contracted at a steady pace.

The precious metal has had a stellar performance in 2024, gaining over 27%, the metal’s best annual return since 2010. The sustained rally was driven by strong safe-haven demand amid persistent geopolitical tensions in the Middle East and the ongoing Russia-Ukraine conflict.

 

Until this News Released Gold Price is at Level $ 2,644

RECOMMENDATION

- Buy if price moves to around $ 2,634

- Sell if price moves to around $ 2,654

 

Resistance Level 2: $ 2,664

Resistance Level 1: $ 2,654

 

Support Level 1: $ 2,634

Support Level 2: $ 2,624

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

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