Waiting for a stronger recovery 2686✍️ NOVA hello everyone, Let's comment on gold price next week from 01/06/2025 - 01/10/2025
🔥 World situation:
Gold prices (XAU/USD) declined on Friday, dropping around two-thirds of a percent to slip below $2,650 per ounce as market sentiment improved following the risk-off mood earlier in the week. The first week of the 2025 trading season has been volatile, but investors continue to seek clarity on market trends as the new year begins.
Richmond Fed President Tom Barkin, speaking to a bankers association in Maryland, noted that the Federal Reserve reduced interest rates by one percentage point in 2024, bringing the federal funds rate to 4.25%-4.5%. He highlighted that unemployment remains historically low, and inflation is gradually approaching the Fed's 2% target.
Barkin also addressed concerns about incoming President Donald Trump’s proposed tariffs, which could initiate trade conflicts with key US allies and partners. He reassured markets, suggesting that the impact of tariffs on consumer prices is complex and depends on factors like supply chains and consumer price sensitivity. Barkin downplayed fears of significant economic disruption from potential 10%-20% tariffs on all imports, emphasizing that their effects are not straightforward.
🔥 Identify:
wait for stronger recovery in early 2025 or price may continue sideway in 2 H4 price bands
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2653, $2686, $2722
Support : $2609, $2585
🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest