Gold prices have surged to a 10-week high, reaching $2,727.19 per ounce, as the U.S. dollar weakened following President Donald Trump's inauguration and indications of a gradual approach to implementing tariffs.
Technical analysis suggests that while the overall trend remains bullish, a short-term bearish correction could occur, potentially testing the support level near $2,695 per ounce.
However, the broader outlook remains positive, with analysts anticipating that gold prices may reach $3,000 per ounce in 2025, driven by factors such as geopolitical tensions and central bank buying.
Technical analysis suggests that while the overall trend remains bullish, a short-term bearish correction could occur, potentially testing the support level near $2,695 per ounce.
However, the broader outlook remains positive, with analysts anticipating that gold prices may reach $3,000 per ounce in 2025, driven by factors such as geopolitical tensions and central bank buying.
MY FOREX & CRYPTO SIGNAL TELEGRAM CHANNEL:
t.me/+R65cJXM2CjIwMjlk
t.me/+R65cJXM2CjIwMjlk
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.
MY FOREX & CRYPTO SIGNAL TELEGRAM CHANNEL:
t.me/+R65cJXM2CjIwMjlk
t.me/+R65cJXM2CjIwMjlk
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.