Gold Rises on Safe-Haven Demand
Gold rose on safe-haven demand ahead of Donald Trump’s inauguration. The precious metal’s strong start to the year is set to continue in the short term, given the incoming administration of US President-elect Donald Trump, MUFG analysts wrote.
The incoming Trump administration will boost safe-haven demand and play into the fear-related dimension of MUFG’s bullish outlook for gold in 2025, the analysts said in a note.
RECOMMENDATIONS
- Buy if price moves to around $2.710
- Sell if price moves to around $2.700
Resistance Level 2: $2.724
Resistance Level 1: $2.717
Support Level 1: $2.693
Support Level 2: $2.686
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