GOLD/ Under FED decision pressure

Gold prices have been trending downward, falling below $2,757 on Monday due to pressure from a strengthening US dollar. This decline is largely driven by investor focus on the Federal Reserve's first meeting of 2025, which is expected to provide crucial insights into the future of interest rate policy. A stronger dollar often weighs on gold prices, as it makes the precious metal more expensive for international buyers, reducing demand.

Further declines in gold prices are anticipated, with the next support level at $2,732. This level is significant because it represents an area where buying interest has historically increased, potentially halting the downtrend. Should gold find support at this level, a recovery could follow, with the price attempting to break back above $2,757.

A 4-hour candle close above $2,757 would indicate renewed bullish momentum and open the door for a challenge of the last resistance high. If this resistance is surpassed, gold could move toward new highs as buying pressure intensifies. The trajectory will be influenced by market sentiment, developments from the Federal Reserve, and any shifts in global economic or geopolitical conditions.

Tendency Keys: 2,757
Resistance Line: 2,757, 2787, 2816
Support Line: 2732, 2696, 2666