Gold Prices Steady In Europe
Gold steadied after falling the most in more than three weeks as expectations for fewer U.S. interest rate cuts this year were offset by demand for safe havens ahead of Donald Trump’s return to the White House
Bullion traded near $2,670 an ounce, having fallen 1% in the previous session as traders recalibrated bets on the Federal Reserve’s easing path after a surprisingly strong U.S. jobs report reinforced views that interest rates are likely to remain high for longer. Higher borrowing costs tend to make the precious metal less attractive, as it does not pay interest.
RECOMMENDATIONS
- Buy if price moves to around $2,671
- Sell if price moves to around $2,661
Resistance Level 2: $2,685
Resistance Level 1: $2,678
Support Level 1: $2,654
Support Level 2: $2,647
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
