Gold Price Analysis January 16
Zaktualizowano
⭐️Fundamental Analysis
Gold prices are struggling to hold above the $2,700 mark after retreating slightly from a more than one-month high. Expectations that the Fed will pause rate cuts later this month have supported the US dollar's recovery, putting pressure on safe-haven gold.
However, easing inflationary pressures in the US have increased the possibility of the Fed cutting rates later this year, reducing bond yields and supporting gold prices. In addition, concerns about Trump's tariff policies and their impact on global growth have also helped limit gold's decline ahead of US economic data.
⭐️Technical Analysis
Gold's uptrend is firmly maintained after buyers accepted to buy at the price zone of 2690. Gold price is heading towards 2698 when breaking this zone, gold will go straight to 2722. The good Buy zone after there is any sign of sellers pushing the price lower than 2690, must wait until the 2680 zone.
Gold prices are struggling to hold above the $2,700 mark after retreating slightly from a more than one-month high. Expectations that the Fed will pause rate cuts later this month have supported the US dollar's recovery, putting pressure on safe-haven gold.
However, easing inflationary pressures in the US have increased the possibility of the Fed cutting rates later this year, reducing bond yields and supporting gold prices. In addition, concerns about Trump's tariff policies and their impact on global growth have also helped limit gold's decline ahead of US economic data.
⭐️Technical Analysis
Gold's uptrend is firmly maintained after buyers accepted to buy at the price zone of 2690. Gold price is heading towards 2698 when breaking this zone, gold will go straight to 2722. The good Buy zone after there is any sign of sellers pushing the price lower than 2690, must wait until the 2680 zone.
Zlecenie aktywne
As analyzed, gold broke 2698 and increased sharply to 2705.Transakcja zamknięta: osiągnięto wyznaczony cel
price reacts at resistance zone 2625
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