Gold prices went sideways and rose slightly after the US Dec PPI report, while Trump's tax hike uncertainty adds haven demand. However, pressure from the strong US economy could limit the upside. With the labor market remains strong, traders need to monitor CPI and PCE for consumer-driven inflation.
Various uncertainties will likely create high volatility.
XAUUSD sustained its uptrend and rose above EMA21. Both EMAs diverge again, emphasizing the bullish momentum. If XAUUSD continues its uptrend within the ascending channel, the price could gain upward momentum toward 2695. Conversely, if XAUUSD breaks below both EMAs, the price may fall further to its support at 2635.
Various uncertainties will likely create high volatility.
XAUUSD sustained its uptrend and rose above EMA21. Both EMAs diverge again, emphasizing the bullish momentum. If XAUUSD continues its uptrend within the ascending channel, the price could gain upward momentum toward 2695. Conversely, if XAUUSD breaks below both EMAs, the price may fall further to its support at 2635.
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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.