Gold Daily | Gold Rebounds 0.83% as Safe-Haven Demand Rises Amid Trump's Tariff Plans and Market Volatility
Wednesday, Jan 29, 2025 7:01 am ET
1min read 【Latest Gold Price and Recent Trends】
Gold prices rebounded, rising 0.83% to $2,763.43 per ounce amid renewed interest as a safe-haven asset due to uncertainties from new tariff plans by President Trump. Previously, prices fell over 1% due to AI-related market disruptions.
【Technical Analysis】
Gold faces resistance at $2,755 and support at $2,731.50, indicating a neutral outlook, with potential for upward movement if the resistance is breached. Short-term pressures might push prices closer to $2,700.
【Market Sentiment and Economic Background】
Recent market volatility, fueled by China's AI firm DeepSeek and Trump's tariff threats, has led to broad sell-offs, affecting gold as investors seek liquidity. Despite declining U.S. Treasury yields, gold did not benefit due to overarching liquidity issues. The market is also attentive to the Federal Reserve's upcoming policy stance amidst Trump's interest rate comments.
【Analyst Opinions】
Analysts see gold's upward trend sustained, needing a trigger to break records. Concerns over Trump's policies could drive demand for gold. Some foresee a historic high in 2025 due to economic uncertainties and inflation fears, while others focus on investors' liquidity needs as a current selling driver.
Gold prices rebounded, rising 0.83% to $2,763.43 per ounce amid renewed interest as a safe-haven asset due to uncertainties from new tariff plans by President Trump. Previously, prices fell over 1% due to AI-related market disruptions.
【Technical Analysis】
Gold faces resistance at $2,755 and support at $2,731.50, indicating a neutral outlook, with potential for upward movement if the resistance is breached. Short-term pressures might push prices closer to $2,700.
【Market Sentiment and Economic Background】
Recent market volatility, fueled by China's AI firm DeepSeek and Trump's tariff threats, has led to broad sell-offs, affecting gold as investors seek liquidity. Despite declining U.S. Treasury yields, gold did not benefit due to overarching liquidity issues. The market is also attentive to the Federal Reserve's upcoming policy stance amidst Trump's interest rate comments.
【Analyst Opinions】
Analysts see gold's upward trend sustained, needing a trigger to break records. Concerns over Trump's policies could drive demand for gold. Some foresee a historic high in 2025 due to economic uncertainties and inflation fears, while others focus on investors' liquidity needs as a current selling driver.
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