Gold Edges Lower
Gold erased earlier gains, paring gains from this week as markets heeded hawkish expectations from the Fed. Fresh data from the ISM showed that manufacturing orders and production increased in December, potentially anticipating a recovery in the sector after a long period of underperformance. The survey also signaled concerns among factories about tariffs by the incoming presidential administration, adding to the risk of a pro-inflationary tone that could prevent the Fed from extending its cutting cycle.
As of this writing, gold is at $2,639
RECOMMENDATION
- Buy if the price moves to around $2,629
- Sell if the price moves to around $2,649
Resistance Level 2: $2,658
Resistance Level 1: $2,649
Support Level 1: $2,629
Support Level 2: $2,620
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
