Gold prices weakened slightly, around 0.21% in the latest trading session, hovering around $4,487. This pressure arose as investors began holding positions while awaiting the direction of US interest rate policy and economic data. Although the decline was relatively small, this movement indicates the market is in a consolidation phase after previously high volatility.
Analysts believe gold's weakening was driven more by investor caution, rather than a major shift in sentiment. As long as global uncertainty and expectations of interest rate cuts persist, gold remains attractive as a hedge. However, in the short term, its movement has the potential to fluctuate while awaiting the next strong catalyst. (asd)
The gold price at the time of this analysis was $4,487.
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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