Gold remains strong, driven by expectations of an interest rate cut by the Federal Reserve and uncertainty in the US economy. Although the US government has reopened, investors continue to seek refuge in gold due to the lack of economic data and global concerns.
However, if pending US economic data turns out to be positive or the Fed indicates that interest rates will remain high, gold prices could be under pressure. Technically, gold could consolidate before continuing to rise, so it's important to be alert to any policy changes or emerging economic data.
At the time of this analysis's release, the gold price was at $4,207.
Disclaimer: This article is analytical in nature and not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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