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