Gold Holds Steady Near Highs, Market Anticipates Fed Easing
Gold prices held steady on Tuesday (August 5th), holding near the two-week high reached in the previous session, as weaker-than-expected US employment data raised expectations for a September interest rate cut and pressured the US dollar and government bond yields.
Spot gold was trading at $3,369.25 per ounce as of 06:29 GMT. Bullion hit its highest level since July 24th on Monday. US gold futures were unchanged at $3,423.20.
Gold prices were at $3,360/oz at the time of writing.
- Buy if the price moves to around $3,367
- Sell if the price moves around $3,353
Resistance 2: $3,381
Resistance 1: $3,374
Support 1: $3,346
Support 2: $3,339
DISCLAIMER
Note: This article is for analysis only and is not a definitive reference. Please consider fundamental and technical aspects of trading before making any investment decisions.
Source: Newsmaker.id