Slight Move to ATH, Gold Sparkles!
Gold rose on market expectations that the Fed would cut interest rates again after weak US economic data and core inflation remained above target. This condition pressured the dollar and prompted investors to seek safe assets like gold.
Furthermore, demand from central banks and institutional investors remained strong, while geopolitical uncertainty maintained buying interest. Technically, gold's bullish momentum remains intact despite a slight correction.
At the time of writing, the gold price was at $3,753
- Buy if the price moves within $3,763
- Sell if the price moves within $3,743
Resistance 2: $3,768
Resistance 1: $3,763
Support 1: $3,733
Support 2: $3,728
Disclaimer:
This article is analytical in nature and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id