Gold Rises Again, Powell in Risk Management Mode
Gold remains supported by the Fed's easing narrative following its 25 bps rate cut and signals of room for further cuts, but the upward momentum is limited by occasional dollar gains and persistently low real yields. The combination of central bank buying, safe-haven demand amid geopolitical uncertainty, and physical interest (e.g., India ahead of the festival season) keeps the fundamental bias constructive despite the slowing pace of gains.
Going forward, gold's direction will depend heavily on the trajectory of US inflation and employment data, which shape expectations for the next rate cut, as well as dollar movements. Fed officials' communications—especially the "meeting-by-meeting" tone—have the potential to trigger short-term sentiment swings.
The gold price at the time of writing was $3,655/Toz.
- Buy if the price moves within the $3,660 range
- Sell if the price moves within the $3,645 range
Resistance 2: $3,670
Resistance 1: $3,665
Support 1: $3,630
Support 2: $3,625
DISCLAIMER
Note: This article is for analytical purposes only and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
