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Indonesia News Portal for Traders | Financial & Business Updates

28 February 2025 16:53  |

Gold Prices Continue to Decline

Gold prices fell on Friday (28/2) and were set to post their biggest weekly decline since November on a stronger dollar, while investors awaited key U.S. inflation data for clues on the direction of Federal Reserve monetary policy.

The dollar index, meanwhile, was set for a weekly gain of 0.7%, making dollar-priced gold more expensive for foreign buyers. In addition, IG market strategist Yeap Jun Rong said. "Although gold is considered a safe asset, uncertainties on the trade front may still cause profit-taking to spread further, amid a stronger U.S. dollar,"

Gold price when this news was released was at $2,860

RECOMMENDATION

- Buy if price moves to $2,856

- Sell if price moves to $2,866

Resistance Level 2: $2,872

Resistance Level 1: $2,866

Support Level 1: $2,856

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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