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Indonesia News Portal for Traders | Financial & Business Updates

7 February 2025 17:38  |

Gold Regains Strength In Europe

Gold rose on Friday (2/7) and was on track for a sixth straight weekly gain on trade-war-fueled safe-haven demand, while attention turned to the upcoming U.S. nonfarm payrolls report for cues on the Federal Reserve’s interest rate path.

Spot gold prices rose 0.4% The new administration appears committed to using tariffs, which cast a dark shadow over the outlook for global economic growth, further boosting gold’s safe-haven appeal, said Ricardo Evangelista, senior analyst at ActivTrades.

RECOMMENDATIONS

- Buy if price moves to $2,872

- Sell if price moves to $2,862

 

Resistance Level 2: $2,886

Resistance Level 1: $2,876

 

Support Level 1: $2,855

Support Level 2: $2,848

Note: This article is only an analysis and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.

Source: Newsmaker.id

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