Gold Falls Slightly, Safe-Haven Demand Eases
Gold (XAU/USD) prices pared some of their intraday losses, although they remained pressured below the $3,400 level and above the two-week high reached last Friday.
Amid optimistic market sentiment, the moderate strengthening of the US dollar (USD) prompted profit-taking around the commodity after its recent gains over the past week or so. However, a combination of factors helped limit the decline in the precious metal.
Gold prices at the time of writing were at $3,396/Toz.
- Buy if the price moves to around $3,403
- Sell if the price moves around $3,389
Resistance 2: $3,417
Resistance 1: $3,410
Support 1: $3,382
Support 2: $3,375
DISCLAIMER
Note: This article is analytical only and is not a definitive reference. Pay attention to developments in fundamental and technical aspects of trading before making investment decisions.
Source: Newsmaker.id