GOLD strategy beginning of the week January 13 Continued uptrend
Zaktualizowano
Safe Haven Demand for Gold Surges Amid High Inflation and Upcoming Tax Policies Under Trump Administration
Gold prices in the domestic market closed the week at their highest level in a month.
A report from the U.S. Department of Labor showed that non-farm payrolls in December increased by 256,000, far exceeding the November figure of 227,000. The strong job data caused an unexpected reaction in the commodities market.
This has raised the probability of the Federal Reserve (Fed) not cutting interest rates in January to 97.3%. Meanwhile, 74% of analysts believe that the Fed will maintain its current interest rates until the FOMC meeting in March.
Donald Trump will be inaugurated as U.S. President on January 20. Markets are paying close attention to the Trump administration’s policies, particularly regarding tariffs and their inflationary impact, as well as concerns over rising fiscal debt.
In such a scenario, gold is seen as an inflation hedge, potentially pushing its price higher. Analysts at Saxo Bank suggest that these factors have driven increased physical gold accumulation in China.
Gold has also seen significant gains against the British pound, as the U.K. faces a new bond market crisis. U.K. bond yields have surged due to concerns that the government will struggle to control the deficit amid rising spending costs.
While higher interest rates are typically bad news for gold, uncertainty around tariffs continues to drive safe-haven demand. Since the beginning of the year, gold prices have risen nearly 3%. Looking at the charts, the price trend is turning bullish, with the next key resistance level at $2,715 per ounce.
Bank of America and JPMorgan predict gold bullion will reach $3,000 per ounce by year-end, while UBS forecasts a price of $2,900 per ounce.
Market Update and Technical Analysis
Here’s a quick update on the current market situation. As mentioned, scenarios still favor gold’s upward momentum, despite positive U.S. data indicators. With upcoming events, investor sentiment remains inclined toward gold as a safe haven. The key psychological level is at $2,720; if this level is broken, the previous peak will likely be revisited quickly, leading to the creation of a new all-time high. However, initially, the market may test $2,720, followed by a correction phase to gather liquidity and momentum for reaching higher levels.
From a technical analysis perspective, the bullish trend remains stable, supported by fundamental analysis factors. Therefore, continuing to buy is recommended, with a target at $2,720.
BUY ZONE: 2678 - 2676
SL: 2672
TP: 2684 - 2688 - 2694 - 2700 - ???
SELL SCALP: 2702 - 2704
SL: 2708
TP: 2698 - 2694 - 2690 - 2686
SELL ZONE: 2716 - 2719
SL: 2723
TP: 2712 - 2710 - 2697 - 2694
Note: Key resistance zones are already highlighted in daily and weekly plans. Exercise caution early Monday as price ranges are still forming. Adhere strictly to TP/SL for every trade signal to safeguard your account.
Gold prices in the domestic market closed the week at their highest level in a month.
A report from the U.S. Department of Labor showed that non-farm payrolls in December increased by 256,000, far exceeding the November figure of 227,000. The strong job data caused an unexpected reaction in the commodities market.
This has raised the probability of the Federal Reserve (Fed) not cutting interest rates in January to 97.3%. Meanwhile, 74% of analysts believe that the Fed will maintain its current interest rates until the FOMC meeting in March.
Donald Trump will be inaugurated as U.S. President on January 20. Markets are paying close attention to the Trump administration’s policies, particularly regarding tariffs and their inflationary impact, as well as concerns over rising fiscal debt.
In such a scenario, gold is seen as an inflation hedge, potentially pushing its price higher. Analysts at Saxo Bank suggest that these factors have driven increased physical gold accumulation in China.
Gold has also seen significant gains against the British pound, as the U.K. faces a new bond market crisis. U.K. bond yields have surged due to concerns that the government will struggle to control the deficit amid rising spending costs.
While higher interest rates are typically bad news for gold, uncertainty around tariffs continues to drive safe-haven demand. Since the beginning of the year, gold prices have risen nearly 3%. Looking at the charts, the price trend is turning bullish, with the next key resistance level at $2,715 per ounce.
Bank of America and JPMorgan predict gold bullion will reach $3,000 per ounce by year-end, while UBS forecasts a price of $2,900 per ounce.
Market Update and Technical Analysis
Here’s a quick update on the current market situation. As mentioned, scenarios still favor gold’s upward momentum, despite positive U.S. data indicators. With upcoming events, investor sentiment remains inclined toward gold as a safe haven. The key psychological level is at $2,720; if this level is broken, the previous peak will likely be revisited quickly, leading to the creation of a new all-time high. However, initially, the market may test $2,720, followed by a correction phase to gather liquidity and momentum for reaching higher levels.
From a technical analysis perspective, the bullish trend remains stable, supported by fundamental analysis factors. Therefore, continuing to buy is recommended, with a target at $2,720.
BUY ZONE: 2678 - 2676
SL: 2672
TP: 2684 - 2688 - 2694 - 2700 - ???
SELL SCALP: 2702 - 2704
SL: 2708
TP: 2698 - 2694 - 2690 - 2686
SELL ZONE: 2716 - 2719
SL: 2723
TP: 2712 - 2710 - 2697 - 2694
Note: Key resistance zones are already highlighted in daily and weekly plans. Exercise caution early Monday as price ranges are still forming. Adhere strictly to TP/SL for every trade signal to safeguard your account.
Zlecenie aktywne
The price range 2676 - 2678 missed 7 pips, the price pushed up to 2690, lost your 120 pips signal, wait for another price range.
Transakcja zamknięta: osiągnięto wyznaczony cel
If Gold continues to trade around 2,68x, the Buy signal remains valid. Only if Gold drops and closes the candle below 2,680 - 82 will we reconsider the outlook, and at that point, we may look to Sell with a target of 5-10 points.
Alternatively, if from mid-European session onwards, Gold increases but fails to break above 2,695 - 97, we will consider an early Sell during a retracement with a target of 5-10 points. However, if Gold breaks above that level, let it continue higher and wait for a higher TP target.
The current price is 2,688.80.
Uwaga
Strategy plan for GOLD buy points today: At the price level of 2664, a profit of 80 pips has been achieved, which is a great start to the week. A perfect move catching the wick from last week's NONFARM data, allowing us to step up to 2672. Congratulations to all of us, let's lock in profits, and the BUY position can still be held
🔻Simple Trading - Trading is not as difficult as you think.
** FREE Telegram
👇👇👇
t.me/KevinSimpleTrading
** FREE Telegram
👇👇👇
t.me/KevinSimpleTrading
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.