Gold Trend January 2
Updated
Gold is trading in an uptrend in early Asian session with resistance facing around 2640. The price range is widening today. On the upper side, pay attention to the 2650 and 2660 zones in the European and US sessions and the main resistance level of the week could reach 2690. It is difficult to wait for buy retests in the current areas, at least wait for 2621, 2615, the strong support zone of the week around the bottom of 2585.
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Gold price appreciates amid Biden's discussions about potential strikes on Iran
Gold price edges higher for the fourth consecutive session on Friday, building on a stellar performance in 2024 with gains exceeding 27%, the metal’s best annual return since 2010. This sustained rally is attributed to strong safe-haven demand amid persistent geopolitical tensions in the Middle East and the prolonged Russia-Ukraine conflict.
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