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Indonesia News Portal for Traders | Financial & Business Updates

1 March 2025 00:59  |

Gold Still Under Pressure in US Session

Gold prices fell more than 1% on Friday (28/2) as the dollar held near its highest level in two weeks after US inflation data matched expectations, suggesting the Federal Reserve may be cautious about additional interest rate cuts.

Higher interest rates stoked the appeal of gold that did not provide an unbalanced yield. However, gold as a safe haven asset is set for a second straight monthly gain, driven by concerns over Trump's tariff plans.

RECOMMENDATION

- Buy if price moves to $2,850

- Sell if price moves to $2,840

 

Resistance Level 2: $2,864

Resistance Level 1: $2,857

 

Support Level 1: $2,833

Support Level 2: $2,826

Note:

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

Source: Newsmaker.id

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