Gold recovers slightly in European session
Gold prices held steady on Monday (4/7), supported by strong central bank demand and the potential for an early US Federal Reserve interest rate cut, but gains were capped as some investors sold bullion to cover losses in other trades.
Spot gold was little changed at $3,034.89 an ounce, as of 1042 GMT, after hitting a session low of $2,971.09 earlier in the session.
RECOMMENDATIONS
- Buy if price moves to $3,048
- Sell if price moves to $3,034
Resistance Level 2: $3,062
Resistance Level 1: $3,055
Support Level 1: $3,027
Support Level 2: $3,020
Note:
This article is only analysis and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id