Gold Returns to $3300 Area
Gold prices got a little boost from expectations of a US interest rate cut at the opening on Tuesday (1/7). The market expects three interest rate cuts in the US during the second half of this year, which could support non-yielding assets such as gold.
On the gold side, it is also still getting resistance thanks to a combination of a weakening US dollar and global uncertainty that is still raging, especially in the Middle East between Israel and Iran.
Recommendations:
Buy if the price breaks above $3319
Sell if the price breaks below $3309
Resistance 2: $3340
Resistance 1: $3327
Support 1: $3300
Support 2: $3382
Note: This article is intended for analysis and not as a definitive reference. Always pay attention to fundamental and technical developments before making investment decisions.
Source: Newsmaker.id