Gold Remains Pressured by Stronger Dollar
Gold prices remained under pressure during the early Asian session on Monday as a stronger US dollar weighed on bullion. The metal eased after hitting an all-time high on Thursday amid hopes for a Ukraine peace deal. However, potential interest rate cuts hinted at by the Federal Reserve (Fed) and ongoing economic uncertainty may limit gains for the yellow metal.
On Sunday, Ukrainian and US officials held talks in Riyadh, Saudi Arabia, continuing efforts to end the three-year war as President Donald Trump pushes for a ceasefire. Ukrainian Defense Minister Rustem Umerov said that the discussions over the weekend were “productive and focused.”
RECOMMENDATION
- Buy if price moves to $3,023
- Sell if price moves to $3,013
Resistance Level 2: $3,036
Resistance Level 1: $3,029
Support Level 1: $3,007
Support Level 2: $3,000
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