Gold Strengthens, Pressure Remains
Gold prices strengthened around US$4,200 per troy ounce during the European trading session on Monday (June 22nd). This increase occurred after gold had been under pressure for three consecutive days, supported by weakening oil prices following the 60-day peace roadmap between the United States and Iran announced by mediators Qatar and Pakistan.
However, gold's room for strengthening remains limited as the market continues to expect the Fed to raise interest rates by the end of the year. The continued strength of the US dollar, the Fed's hawkish stance, and geopolitical tensions in the Middle East make gold vulnerable to renewed selling pressure. (asd)
Gold Price at the Time of This Analysis' Release: $4,204
- Buy if the price moves to $4,200
- Sell if the price moves to $4,191
Resistance 2: $4,212
Resistance 1: $4,203
Support 1: $4,185
Support 2: $4,176
Note: This article is analytical in nature and not a definitive reference. Please consider the impact of fundamental and technical developments on trading before making any investment decisions.
Source: Newsmaker.id