Gold Quietly Prepares Ahead of US Data
Global gold prices are holding steady in the positive area at around $3,343 per ounce after rallying 2% in the previous two sessions. Currently, the market is taking a wait-and-see attitude ahead of two major agendas from the US: the House vote on Trump's tax bill and the release of June employment data.
Although the US dollar strengthened slightly, positive sentiment towards gold remains intact because fiscal concerns, geopolitical tensions, and the direction of trade policy are still the main concerns of investors. Additional support comes from central bank purchases and fund flows into gold-based ETFs, which indicate that medium-term interest is still strong. If Thursday's employment data disappoints, the opportunity for gold to approach its highest level again will be even more open.
Recommendations:
Buy if price breaks above $3348
Sell if price breaks below $3338
Resistance 2: $3353
Resistance 1: $3348
Support 1: $3338
Support 2: $3333
Note: This article is intended for analysis and not as a definitive reference. Always pay attention to fundamental and technical developments before making investment decisions.
Source: Newsmaker.id
