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Indonesia News Portal for Traders | Financial & Business Updates

23 May 2025 01:32  |

Gold Down as US Dollar Strengthens

Gold prices fell on Thursday (5/22) as a stronger US dollar weighed on the bullion as US Treasury yields fell from intraday highs as the US House of Representatives approved Trump's budget, which will now be sent to the Senate for approval.

Market sentiment improved slightly but remained fragile as it was sponsored by a Moody's downgrade of the US government's debt rating. The fiscal package so far approved by the US lower house is projected to add $4 trillion to the debt ceiling.

RECOMMENDATIONS

- Buy if price moves to $3,300

- Sell if price moves to $3,290

 

Resistance 2: $3,314

Resistance 1: $3,307

 

Support 1: $3,283

Support 2: $3,276

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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