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 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

17 January 2025 01:09  |

Gold Continues Rise Above $2,700 Level

Gold prices continued their climb above the $2,700 level on Thursday, after U.S. retail sales data rose less than expected in December and initial jobless claims rose sharply in January, weakening the dollar slightly.

The results also support the Fed's interest rate cut to prevent a sharper economic slowdown this year, after yesterday's softer core CPI figure hit gold prices.

Elsewhere, Israel and Hamas reached a ceasefire and hostage agreement, easing demand for safe-haven assets.

RECOMMENDATIONS

- Buy if price moves to around $2.727

- Sell if price moves to around $2.717

Resistance Level 2: $2.740

Resistance Level 1: $2.733

 

Support Level 1: $2.711

Support Level 2: $2.704

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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