Gold Prices Soar Ahead of Major Political Events in the US
On the morning of January 3, the world gold price skyrocketed to $2,658/ounce, the highest in the past two weeks, recording an increase of $38 in just one trading session. The main reason is believed to be the increase in concerns about international geopolitical tensions and financial instability ahead of the inauguration of the US President-elect. The economic policies he plans to implement, especially tariffs, could increase inflation, boosting safe-haven flows into gold.
In 2024, gold prices increased by more than 27%, thanks to strong supporting factors such as interest rate cuts by central banks and geopolitical tensions. Fawad Razaqzada, analyst at Forex.com, said that a correction or consolidation in gold prices in early 2025 would create momentum for a new rally, especially if the fundamental support factors remain in place.
Based on the current developments, I believe that gold prices could continue to maintain an upward trend in the short term. If the price breaks the next resistance level at $2,680/ounce, a stronger rally could occur, with a near-term target at $2,700/ounce.
In 2024, gold prices increased by more than 27%, thanks to strong supporting factors such as interest rate cuts by central banks and geopolitical tensions. Fawad Razaqzada, analyst at Forex.com, said that a correction or consolidation in gold prices in early 2025 would create momentum for a new rally, especially if the fundamental support factors remain in place.
Based on the current developments, I believe that gold prices could continue to maintain an upward trend in the short term. If the price breaks the next resistance level at $2,680/ounce, a stronger rally could occur, with a near-term target at $2,700/ounce.
Join my team to access free trading signals with:
👉🏻 Winning rate of up to 85%! Every day,
👉🏻 You'll receive 5-7 high-quality signals.
Click here to join the group: t.me/+dv8TI5LsqY8yNWI9
👉🏻 Winning rate of up to 85%! Every day,
👉🏻 You'll receive 5-7 high-quality signals.
Click here to join the group: t.me/+dv8TI5LsqY8yNWI9
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.