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