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Indonesia News Portal for Traders | Financial & Business Updates

15 January 2025 17:15  |

Gold Prices Steady Ahead of US CPI Data

Gold prices rose on Wednesday (15/1) as the US dollar and Treasury yields weakened, while market participants awaited US inflation data for clues on the Federal Reserve's interest rate strategy.

In addition, an upbeat US monthly jobs report released on Friday reaffirmed the Federal Reserve's (Fed) hawkish outlook and kept US Treasury bond yields elevated, which contributed to driving flows away from non-yielding Gold prices.

RECOMMENDATION

- Buy if the price moves to around $ 2,690

- Sell if the price moves to around $ 2,680

Resistance Level 2: $ 2,704

Resistance Level 1: $ 2,697

 

Support Level 1: $ 2,673

Support Level 2: $ 2,666

DISCLAIMER

Note: This article is only an analysis and not a definitive reference. Pay attention to developments in fundamental and technical aspects in trading before making investment decisions.

Source: Newsmaker.id

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