Gold Daily | Geopolitical Tensions Support Gold Amid Strong Dollar and Fed's Hawkish Stance

【Latest Gold Price and Recent Trends】

Gold prices slightly rose to approximately $2,620, supported by geopolitical tensions and demand for safe-haven assets, despite challenges from a strong dollar and higher U.S. treasury yields.

【Technical Analysis】

Gold is nearing a critical pivot point at $2,633.32. A breakout above this could propel prices towards $2,664.41, while immediate support lies at $2,586.34. The 50-day moving average at $2,621.62 suggests consolidation.

【Market Sentiment and Economic Background】

The strong dollar persists due to the Federal Reserve's indication of a slower pace of rate cuts in 2025, maintaining high U.S. yields. Geopolitical tension, particularly in the Middle East, is increasing market volatility but supporting gold. Investors are cautious ahead of Donald Trump's upcoming presidential term, which could influence tariffs, tax, and regulation, affecting market stability and gold demand.

【Analyst Opinions】

Analysts predict that gold may face resistance due to the Fed's hawkish stance, despite a supportive environment from geopolitical tensions. The market awaits Trump's policy impacts, which could increase volatility and benefit gold. The 2025 outlook remains optimistic, with price targets near $2,800 by mid-year, contingent on global economic and political developments.