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Indonesia News Portal for Traders | Financial & Business Updates

8 May 2025 17:00  |

Gold Under Pressure After The Fed's Statement

Gold moved in the $3339 area during the European session on Thursday (08/05) amid news that United States (US) President Donald Trump is expected to announce a trade agreement with the United Kingdom (UK).

Another factor is that the Federal Reserve maintained interest rates, and Chairman Jerome Powell said the central bank was in no hurry to cut despite the uncertainty of the trade war.

Until this news was released, the price of Gold was at $3,339

RECOMMENDATION

- Buy if the price moves to $3,344

- Sell if the price moves to $3,334

 

Resistance Level 2: $3,349

Resistance Level 1: $3,344

 

Support Level 1: $3,334

Support Level 2: $3,329

Note: This article is only an analysis and not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.

Source: Newsmaker.id

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