Gold prices are approaching a key resistance zone, with levels around 2720 and 2740 acting as crucial points to watch. This comes amid rising uncertainty in the global financial markets, where investors are closely monitoring the actions of President-elect Donald Trump and the ongoing impact of President Biden’s policies. The political landscape remains unpredictable, adding to the economic instability that's keeping markets on edge.
With both U.S. leaders shaping future policy, from trade to inflation, markets are in flux. In uncertain times like these, investors tend to turn to safe-haven assets like gold, which typically performs well when confidence in the broader economy wanes.
If gold manages to break through the resistance at 2720 and 2740, it could signal further upside as fears about the global outlook push more capital into precious metals. However, the path ahead remains unclear, with the market’s reaction to political shifts playing a major role in determining whether gold will continue its rally or face a pullback.
GOLD XAUUSD
With both U.S. leaders shaping future policy, from trade to inflation, markets are in flux. In uncertain times like these, investors tend to turn to safe-haven assets like gold, which typically performs well when confidence in the broader economy wanes.
If gold manages to break through the resistance at 2720 and 2740, it could signal further upside as fears about the global outlook push more capital into precious metals. However, the path ahead remains unclear, with the market’s reaction to political shifts playing a major role in determining whether gold will continue its rally or face a pullback.
GOLD XAUUSD Trade active
I initiated a short position at 2717. This is a short-term swing trade.Trade closed manually
I exited my trade at 2684, although my initial planned target was 2660.Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.