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Indonesia News Portal for Traders | Financial & Business Updates

18 June 2025 07:42  |

Gold Steady Ahead of FOMC

Gold edged higher, with safe-haven demand from rising risks of a wider war in the Middle East offset by weak U.S. economic data that raised the prospect of a rate cut.

While rising tensions boosted bullion’s appeal as a store of value amid geopolitical turbulence, traders also factored in a series of tepid U.S. reports on retail sales, housing and industrial production that strengthened the case for a Federal Reserve rate cut this year.

However, the Middle East conflict has fueled a spike in crude oil prices that could stoke inflation, making aggressive Fed monetary easing less likely. A rate cut is usually a positive for non-yielding gold. The U.S. central bank is set to announce its latest policy settings later on Wednesday.

RECOMMENDATION

- Buy if price breaks above $3,389

- Sell if price breaks above $3,379

 

Resistance 2: $3,395

Resistance 1: $3,389

 

Support 1: $3,379

Support 2: $3,370

Note: This article is for analytical purposes only and is not a definitive reference. Please pay attention to fundamental and technical developments in trading before making any investment decisions.

Source: Newsmaker.id

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