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Indonesia News Portal for Traders | Financial & Business Updates

21 March 2025 16:15  |

Gold Undergoes Slight Correction

Gold prices continued to decline in the European session on Friday (21/03). Gold is currently trading in the $3028 area

After some minor corrections from overbought technical levels, gold prices have stabilized and remain well supported, he said in a note.

Meanwhile, Investors have been buying gold as a hedge against uncertainty about Trump's policies and central banks are buying gold to reduce their dependence on the US dollar. In the longer term, rising geopolitical risks will continue to support the precious metal's prospects. Investors are concerned about the de-dollarization trend as the importance of the US dollar as a global trading currency may be eroded, he added.

RECOMMENDATION

- Buy if price moves to $3,033

- Sell if price moves to $3,023

Resistance Level 2: $3,038

Resistance Level 1: $3,033

Support Level 1: $3,023

Support Level 2: $3,018

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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