GOLD MARKET ANALYSIS AND COMMENTARY - [January 27 - January 31]

há 7 dias

Last week, the gold market continued to benefit from concerns related to tariffs and US President Donald Trump's statements on interest rates, along with a decrease in US bond yields and the USD, and gold prices traded. trading near a 3-week high of above 2,750 USD/ounce.

Ahead of the monetary policy meeting next week, it is predicted that the US Central Bank will keep interest rates unchanged and there will only be one interest rate cut this year, while Mr. Trump called on banks to Global central banks lower interest rates. This means there may be disagreements between Mr. Trump and the Fed. This is something that traders are paying attention to and gold prices are likely to benefit from its role as a safe haven asset.

This week's economic calendar will focus on central banks globally, with the US Federal Reserve and Bank of Canada announcing interest rate decisions on Wednesday, followed by an announcement from the European Central Bank. Europe on Thursday.

The market will also pay attention to some US economic data, including the December new home sales report released on Monday, durable goods and consumer confidence reports on Tuesday, GDP Fourth quarter weekly unemployment claims and pending home sales on Thursday, and PCE, personal income and personal spending on Friday morning.

📌Technically, on the H4 chart, this week's gold price has broken out of the Downtrend line and the important resistance level at 2725, gaining momentum to near the 2790 resistance threshold. Next week, if the 2790 resistance mark is broken, broken, gold prices will continue to set record high prices for early 2025.

Notable technical levels are listed below.
Support: 2,730USD
Resistance: 2,770 – 2,762 – (All-time high)

SELL XAUUSD PRICE 2831 - 2829⚡️
↠↠ Stoploss 2835

BUY XAUUSD PRICE 2712 - 2714⚡️
↠↠ Stoploss 2708

há 6 dias

Nota

The US dollar index DXY has increased 15 points in the short term and is currently at 107.49.

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Nota