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Indonesia News Portal for Traders | Financial & Business Updates

19 September 2025 10:30  |

Powell Causes Market Doubt, Gold Falls Again

Gold is currently correcting after initially surging following the Fed's 25 bps interest rate cut. Jerome Powell's "meeting-by-meeting" and less dovish statements have raised market doubts about the pace of future rate cuts, thus easing interest in gold.

Furthermore, the US dollar strengthened following Powell's comments. A stronger dollar typically puts downward pressure on gold prices because it makes them more expensive for buyers outside the US. As a result, gold is now about $60 below its record high.

 

The price of gold at the time of writing is $3,653/Toz.

- Buy if the price moves within $3,660

- Sell if the price moves within $3,646

 

Resistance 2: $3,674

Resistance 1: $3,667

 

Support 1: $3,639

Support 2: $3,632

 

DISCLAIMER

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

Source: Newsmaker.id

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