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Indonesia News Portal for Traders | Financial & Business Updates

16 January 2025 01:02  |

Gold Continues Gains After US CPI Data

Gold prices rose for a second straight day on Wednesday (15/1) after US data signaled fading core inflation and a decline in US yields. This suggests that the Federal Reserve (Fed) could ease policy due to the disinflationary trend.

Gold continued its positive trend after the US Bureau of Labor Statistics (BLS) revealed that underlying consumer inflation fell compared to estimates and the previous month's reading. The data caused US yields to fall, as there is an increasing possibility that the Fed will not rule out a rate cut after its December meeting.

RECOMMENDATION

- Buy if the price moves to around $ 2,697

- Sell if the price moves to around $ 2,687

Resistance Level 2: $ 2,711

Resistance Level 1: $ 2,703

 

Support Level 1: $ 2,681

Support Level 2: $ 2,673

DISCLAIMER

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

Source: Newsmaker.id

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