Gold Edges Higher: US-Iran Peace vs Interest Rate Cap
Gold held firm in early Asian trading on Wednesday (April 15), hovering around US$4,840/oz after rising 2.1% the previous day. This rise was supported by optimism surrounding negotiations between the US and Iran, which are seen as reducing the risk of energy disruptions and inflationary pressures. President Donald Trump said negotiations could continue in the next two days.
Additional support came from a weaker dollar, making gold more attractive, but gains were capped by concerns about prolonged high interest rates. Risks from the Strait of Hormuz and the US blockade continue to maintain a geopolitical premium; spot gold last edged down 0.1% to US$4,838.53/oz. (asd)
Gold Price at the Time of This Analysis' Release: $4,845
- Buy if the price moves to $4,841
- Sell if the price moves to $4,828
Resistance 2: $4,860
Resistance 1: $4,847
Support 1: $4,821
Support 2: $4,908
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider the impact of fundamental and technical developments on your trading before making any investment decisions.
Source: Newsmaker.id