Fundamental
Gold prices advanced as plunging US yields hinted at easing core inflation, raising hopes for a dovish Feds policy.
However, the potential tariff risks from the incoming administration threaten to stoke inflation and pressure gold.
Markets now await US Dec Retail Sales, Weekly Unemployment Claims, and Fed speeches for further direction.
Technical
XAUUSD sustains a steady uptrend within an ascending channel. The price surpassed the short-term high of 2695, maintaining bullish momentum.
If XAUUSD breaches above the channel's upper bound, the price may gain upward momentum toward its resistance of 2720.
Conversely, if XAUUSD breaks below EMA21, the price may test its support of 2665.
Gold prices advanced as plunging US yields hinted at easing core inflation, raising hopes for a dovish Feds policy.
However, the potential tariff risks from the incoming administration threaten to stoke inflation and pressure gold.
Markets now await US Dec Retail Sales, Weekly Unemployment Claims, and Fed speeches for further direction.
Technical
XAUUSD sustains a steady uptrend within an ascending channel. The price surpassed the short-term high of 2695, maintaining bullish momentum.
If XAUUSD breaches above the channel's upper bound, the price may gain upward momentum toward its resistance of 2720.
Conversely, if XAUUSD breaks below EMA21, the price may test its support of 2665.
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.
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.