Gold Daily | Gold Fluctuates Amid Resurgent Dollar, Trade Policy Concerns, and Geopolitical Tensions
Market BriefThursday, Jan 23, 2025 7:01 am ET
1min read【Latest Gold Price and Recent Trends】
Gold prices have fluctuated around $2,750, retracting from a recent high due to a resurgent dollar and stable stock markets, despite strong safe-haven demand driven by geopolitical uncertainties and U.S. trade policy under President Trump.
【Technical Analysis】
Gold remains technically bullish, aiming for a symmetrical triangle target of $2,785/oz or the record high of $2,790/oz. Analysts suggest that a close above $2,762/oz could reinforce the bullish trend, while a fall below $2,744/oz may trigger a bearish outlook, targeting $2,700/oz and lower support levels.
【Market Sentiment and Economic Background】
Investors are cautious due to potential trade policies from President Trump, including proposed tariffs on China, Mexico, and Canada, which could impact global economic stability and inflation. The Federal Reserve's potential rate cuts provide some support for gold, while geopolitical tensions continue to bolster safe-haven demand.
【Analyst Opinions】
Analysts express mixed views: while technical indicators support a bullish outlook, market uncertainties surrounding trade policies and interest rate decisions could influence gold's trajectory. Trump's policies, if inflationary, could limit rate cuts, affecting gold's appeal as a non-yielding asset, though its safe-haven status remains strong amidst global uncertainties.
Gold prices have fluctuated around $2,750, retracting from a recent high due to a resurgent dollar and stable stock markets, despite strong safe-haven demand driven by geopolitical uncertainties and U.S. trade policy under President Trump.
【Technical Analysis】
Gold remains technically bullish, aiming for a symmetrical triangle target of $2,785/oz or the record high of $2,790/oz. Analysts suggest that a close above $2,762/oz could reinforce the bullish trend, while a fall below $2,744/oz may trigger a bearish outlook, targeting $2,700/oz and lower support levels.
【Market Sentiment and Economic Background】
Investors are cautious due to potential trade policies from President Trump, including proposed tariffs on China, Mexico, and Canada, which could impact global economic stability and inflation. The Federal Reserve's potential rate cuts provide some support for gold, while geopolitical tensions continue to bolster safe-haven demand.
【Analyst Opinions】
Analysts express mixed views: while technical indicators support a bullish outlook, market uncertainties surrounding trade policies and interest rate decisions could influence gold's trajectory. Trump's policies, if inflationary, could limit rate cuts, affecting gold's appeal as a non-yielding asset, though its safe-haven status remains strong amidst global uncertainties.
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