Gold Prices Still Awaiting the Green Light!
Gold edged up to $3,330/oz in European trading on Wednesday (July 30th), supported by falling US Treasury yields and a weakening US dollar.
The Fed is widely expected to hold interest rates, despite US President Donald Trump's continued calls for a rate cut. The market still expects a potential rate cut in September.
Meanwhile, investors await the Federal Reserve's policy statement, which will be released today, for guidance on the direction of future monetary policy.
Gold prices at the time of writing were at $3,330/oz.
- Buy if the price moves to around $3,335
- Sell if the price moves around $3,325
Resistance 2: $3,341
Resistance 1: $3,335
Support 1: $3,325
Support 2: $3,319
DISCLAIMER
Note: This article is analytical only and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id (ayu)