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Indonesia News Portal for Traders | Financial & Business Updates

18 February 2025 11:15  |

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

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