Gold Slips, Market Confused by Fed Signals
Gold fell to around $3,730/oz on Thursday (September 25th), continuing its correction from record highs as the market weighed the Fed's interest rate outlook. Jerome Powell struck a cautious tone amid stubborn inflation and a cooling labor market, while Fed officials were torn between two additional cuts this year, a more measured approach, or a more aggressive easing option. An unexpected surge in U.S. new home sales in August—the fastest since early 2022—contributed to the complicating expectations of further interest rate cuts.
Despite the weakening, gold's appeal as a safe-haven asset remained supported by geopolitical tensions. NATO warned Russia that the alliance was ready to take "all necessary measures," while President Trump suggested Ukraine could retake all Russian-controlled territory—sentiments that maintained safe-haven demand for gold.
At the time of writing, the gold price is at $3,738.
- Buy if the price moves within the $3,745 range.
- Sell if the price moves within the $3,731 range.
Resistance 2: $3,759
Resistance 1: $3,752
Support 1: $3,724
Support 2: $3,717
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
