Gold Daily | Gold Dips 6% Post-Election as Dollar Strengthens; Analysts See Potential Recovery by 2025

【Latest Gold Price and Recent Trends】

Gold prices recently declined approximately 6% after peaking at a record $2,800 per ounce in late October. This decline is attributed to the post-election rebound of the US dollar and a ceasefire between Israel and Hezbollah.

【Technical Analysis】

Gold is currently trading around $2,643 per ounce. Technical indicators show a potential bearish trend unless prices maintain above certain support levels like $2,621.48, with resistance at $2,655.67. If gold prices break through $2,665, a bullish recovery may ensue.

【Market Sentiment and Economic Background】

Global political tensions and upcoming US economic data, particularly employment reports, and comments from the Federal Reserve, might influence gold's direction. Strong employment figures could pressure gold as they might lead to a stronger dollar.

【Analyst Opinions】

Analysts from Capital Economics predict that despite current pressures, gold could reach $2,750 by the end of 2025. This is due to factors such as increased demand from China, central bank purchases, and concerns over fiscal sustainability. While the dollar is expected to strengthen and real yields to rise, which typically puts pressure on gold prices, these non-traditional factors may offset such trends, leading to a moderate price increase over the coming years.