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 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

16 January 2025 16:50  |

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

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