Gold price analysis January 7
Diupdate
⭐️Fundamental analysis
Gold prices are currently only slightly up and struggling to maintain the upward momentum, trading around $2,640 in the European session. Market sentiment is affected by risks from the Russia-Ukraine war, tensions in the Middle East, and concerns about President-elect Donald Trump's protectionist policies.
The Federal Reserve (Fed) showed a cautious trend when it expected to slow the pace of interest rate cuts in 2025. This increased bond yields and supported the USD, putting pressure on non-yielding gold prices.
Traders are waiting for more information from the FOMC meeting minutes and the US employment report (NFP) this week, causing cautious sentiment in the market.
⭐️Technical analysis
Today can only trade within the range. 2651 and 2623 have become the price range zones to watch for trading today. The further range 2663 and 2606 is the most important zone or port zone today. As gold awaits more important economic data, trading in the range is expected.
Gold prices are currently only slightly up and struggling to maintain the upward momentum, trading around $2,640 in the European session. Market sentiment is affected by risks from the Russia-Ukraine war, tensions in the Middle East, and concerns about President-elect Donald Trump's protectionist policies.
The Federal Reserve (Fed) showed a cautious trend when it expected to slow the pace of interest rate cuts in 2025. This increased bond yields and supported the USD, putting pressure on non-yielding gold prices.
Traders are waiting for more information from the FOMC meeting minutes and the US employment report (NFP) this week, causing cautious sentiment in the market.
⭐️Technical analysis
Today can only trade within the range. 2651 and 2623 have become the price range zones to watch for trading today. The further range 2663 and 2606 is the most important zone or port zone today. As gold awaits more important economic data, trading in the range is expected.
Trade aktif
Resistance zone around 2663-2665 has reacted 20 price
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