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Indonesia News Portal for Traders | Financial & Business Updates

5 May 2025 16:27  |

Gold in Europe Begins to Show Its Strength

Gold's appeal is increasing as traders prepare for the Federal Reserve's interest rate decision on May 7. Over the weekend, Trump again expressed his dislike for the Fed and its Chairman Jerome Powell. After calling Powell "tough", the US President asked members of the Federal Open Market Committee (FOMC) to pressure Chairman Powell to cut interest rates.

When this news was released, the price of Gold was moving at the level of $ 3296, seen from the fundamental side, Gold still has the drive to increase.

RECOMMENDATION

- Buy if the price moves to $ 3,306

- Sell if the price moves to $ 3,286

 

Resistance Level 2: $ 3,321

Resistance Level 1: $ 3,306

 

Support Level 1: $ 3,286

Support Level 2: $ 3,271

Note:

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

Source: Newsmaker.id

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