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