Gold Daily | Gold Nears Historic Highs Amid Rate Cut Speculations and Trade Uncertainties

Generated by AI AgentAinvest Market Brief
Saturday, Jan 25, 2025 7:00 am ET1min read
【Latest Gold Price and Recent Trends】

Gold prices have surged close to October's historic highs, driven by President Trump's push for rate cuts and trade policy uncertainties, which have pressured the dollar. Spot gold is up 0.98% at $2,781.50 per ounce, marking a weekly increase of 2.8%.

【Technical Analysis】

On the daily chart, gold has surpassed a key resistance level of $2,721, with buyers pushing towards new highs. Expect resistance near $2,790. On 4-hour and 1-hour charts, upward momentum is defined by a trendline, suggesting cautious buying. Immediate focus is on PMI data that might influence market moves.

【Market Sentiment and Economic Background】

Gold's rise is fueled by trade policy uncertainty and Trump's rate cut calls, making it attractive in a low-rate environment. With the dollar at a one-month low, gold's appeal as a hedge remains strong. Upcoming Fed and ECB meetings could impact sentiment, especially amid global economic tensions.

【Analyst Opinions】

Analysts expect gold to continue its upward trajectory, potentially reaching $3,000 this year. The expectation of a dovish rate stance supports this. However, geopolitical and trade uncertainties remain, encouraging demand for gold as a safe haven.

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