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 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

13 January 2025 14:38  |

Gold Prices Resume Decline Ahead of European Session

Gold prices reversed the Asian session decline to the $2,688 area and are currently trading just below the one-month highs hit on Friday, although the upside appears limited.

The upbeat US Nonfarm Payrolls (NFP) report reinforced market expectations that the Federal Reserve (Fed) will halt its interest rate-cutting cycle later this month.

This, coupled with persistent geopolitical risks, dampened investors’ appetite for riskier assets, as evident from the weaker tone around equity markets and acted as a tailwind for the safe-haven precious metal.

RECOMMENDATION

- Buy if price moves to around $2,693

- Sell if price moves to around $2,683

Resistance Level 2: $2,707

Resistance Level 1: $2,700

 

Support Level 1: $2,676

Support Level 2: $2,669

DISCLAIMER

Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in trading before making investment decisions.

Source: Newsmaker.id

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