Gold Recovers In Europe
Gold prices found some support above the $3,200 level and pared some of its modest intraday losses, although upside potential appears limited.
The US dollar (USD) fell to a near two-week low amid speculation that the Federal Reserve (Fed) will cut interest rates further in 2025, which turned out to be a key factor offering some support to the non-yielding yellow metal.
RECOMMENDATIONS
- Buy if price moves to $3,243
- Sell if price moves to $3,229
Resistance 2: $3,257
Resistance 1: $3,250
Support 1: $3,222
Support 2: $3,215
Note: This article is analysis only and not a definitive reference. Keep in mind fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id