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Gold Daily | Geopolitical Tensions Support Gold Amid Strong Dollar and Fed's Hawkish Stance
Generated by AI AgentAinvest Market Brief
Tuesday, Dec 24, 2024 7:01 am ET1min read
【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.
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.
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Market Watch column provides a thorough analysis of stock market fluctuations and expert ratings.
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Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc’s editorial and disclosure standards.
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