XAU/USD
As of January 20, 2025, gold (XAUUSD) prices have been on an upward trajectory, influenced by several key factors:
U.S. Inflation Data: Recent reports indicate a slowdown in U.S. core inflation, with the rate decreasing to 3.2% in December from 3.3% in November year-on-year. This deceleration has heightened expectations of potential interest rate cuts by the Federal Reserve, thereby bolstering gold's appeal as a non-yielding asset.
Safe-Haven Demand: Amid global economic uncertainties and anticipated policy changes with President-elect Donald Trump's upcoming second term, investors are gravitating towards safe-haven assets like gold to hedge against potential market volatility.
Technical Indicators: Analysts suggest that if gold prices consolidate above the $2,700 level, the next resistance targets could be $2,727 and $2,730. Conversely, a decline below $2,670 might signal a deeper bearish correction towards $2,645.
U.S. Inflation Data: Recent reports indicate a slowdown in U.S. core inflation, with the rate decreasing to 3.2% in December from 3.3% in November year-on-year. This deceleration has heightened expectations of potential interest rate cuts by the Federal Reserve, thereby bolstering gold's appeal as a non-yielding asset.
Safe-Haven Demand: Amid global economic uncertainties and anticipated policy changes with President-elect Donald Trump's upcoming second term, investors are gravitating towards safe-haven assets like gold to hedge against potential market volatility.
Technical Indicators: Analysts suggest that if gold prices consolidate above the $2,700 level, the next resistance targets could be $2,727 and $2,730. Conversely, a decline below $2,670 might signal a deeper bearish correction towards $2,645.
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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.