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Indonesia News Portal for Traders | Financial & Business Updates

28 February 2025 13:29  |

Gold prices remain under pressure

Gold (XAU/USD) prices triggered some extended selling for the second straight day and fell to a more than two-week low as Speculation that the Federal Reserve (Fed) will maintain its hawkish stance on the back of persistently high inflation helped the dollar extend this week’s recovery from its lowest level since December 10. This turned out to be a key factor driving flows away from the non-yielding yellow metal.

Gold price at the time of this news release was at $2,864

RECOMMENDATION

- Buy if price moves to $2,855

- Sell if price moves to $2,870

 

Resistance Level 2: $2,885

Resistance Level 1: $2,875

 

Support Level 1: $2,855

Support Level 2: $2,850

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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