GOLD
Gold is trading above support at $4,000, with prices likely to decline and retest this support level, while this bearish scenario would be invalidated if prices break above resistance at $4,130 during today’s trading session.
|
Support |
4000 | 3900 |
| Resistance | 4130 |
4250 |
Gold prices fell 1.02% during today’s trading to $4,038 per ounce, following three consecutive sessions of modest gains. The decline came after the Federal Reserve kept interest rates unchanged without providing clear signals about its future monetary policy, while the possibility of further tightening before the end of the year remains. Gold futures slipped to $4,049, while silver fell 1.4% to $53.23 and platinum dropped by a similar percentage to $1,520, alongside a rise in the US Dollar Index to 102.20. The Federal Open Market Committee voted 10–2 to keep interest rates unchanged, while investors are now awaiting upcoming US inflation data for further clues about the interest rate outlook and the direction of gold prices in the coming period.
You can now benefit from LDN company’s services through the LDN Global Markets trading platform.
