Gold Back in $2,900 Area
Gold prices moved in the $2,908 area on Tuesday (2/18),
Gold prices are likely to rise further on structurally higher central bank demand, Goldman Sachs analyst Lina Thomas wrote in a note.
The bank raised its forecast for the precious metal by end-2025 to $3,100/oz from $2,890/oz, adding that central bank demand will add 9% to prices by year-end, combined with a gradual increase in ETF holdings as the federal funds rate declines.
RECOMMENDATION
- Buy if price moves to $2,913
- Sell if price moves to $2,903
Resistance Level 2: $2,918
Resistance Level 1: $2,913
Support Level 1: $2,903
Support Level 2: $2,898
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