GOLD soars on positive conditions, despite USD strength

6 วันที่ผ่านมา

XAUUSD continued to increase after a strong increase in yesterday's trading day. Gold price is currently at about 2,663 USD/ounce. Despite the strength of the US Dollar, spot gold still rose to its highest level in more than two weeks, due to safe-haven buying and falling US bond interest rates. The market is rushing to open positions before the Trump administration's tariff and trade policies are introduced.

US media exclusively reported: Biden discussed a plan to attack Iran's nuclear facility before Trump took office
US President Joe Biden has discussed plans to attack Iran's nuclear facilities before Trump's inauguration on January 20 if Tehran accelerates its development of nuclear weapons, US website Axios reported.

Reuters reported that Russia carried out drone attacks in Kiev early Wednesday morning, causing damage to two areas, while Israel attacked a community near Gaza City. The market at the beginning of the year will pay close attention to the development of geopolitical risks. Any sign of tension in the Middle East and Russia-Ukraine could send the price of gold, the traditional safe haven, higher.
Gold is considered a hedge against geopolitical instability and discovery risk, but because it doesn't earn interest, it does better in a low interest rate environment.

The latest report from Britain's Reuters today (Friday) said that Gaza authorities said an Israeli air strike on Thursday killed at least 68 Palestinians in the Gaza Strip, including a tent camp and people standing head of the Hamas-controlled police force in the Gaza Strip. His deputy and nine evacuees died there.

The attack took place in the Al-Mawasi area, which was previously designated a humanitarian zone for civilians during the 14-month war between Israel and Hamas, which rules Gaza.
According to the Hamas-controlled Interior Ministry, Gaza police chief Mahmoud Salah and his assistant Hussam Shahwan were killed in the attack while they were checking in refugees.
The Gaza Interior Ministry added in a statement: "By committing the crime of assassinating the Gaza Strip police chief, the occupiers are determined to spread chaos in (the enclave) and deepen the suffering of people."

Analysis of technical prospects for XAUUSD
After struggling for quite a while in the area of ​​the 0.618% Fibonacci retracement level yesterday, since gold broke this important confluence around 2,634 USD, it has had bullish conditions in the short term.
The area of ​​POC Volume Profile with EMA21 and Fibonacci 0.618% now becomes a short-term support area.

Meanwhile, the Relative Strength Index also rose above the 50 level, which should be considered a positive signal as the current 50 level also becomes support for the RSI in the short term. Temporarily, the gold price chart is limiting its upward momentum by the 0.50% Fibonacci level and if gold continues to break this level it will tend to increase further with the next target being $2,693 which is the position of the upper edge of the triangle. purple price tag.

Thus, the intraday trend of gold prices will be noticed again by the following levels.
Support: 2,634 – 2,640USD
Resistance: 2,664 – 2,693USD

SELL XAUUSD PRICE 2694 - 2692⚡️
↠↠ Stoploss 2698

→Take Profit 1 2687
↨
→Take Profit 2 2682

BUY XAUUSD PRICE 2629 - 2631⚡️
↠↠ Stoploss 2525

→Take Profit 1 2636
↨
→Take Profit 2 2641

3 วันที่ผ่านมา

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⚫Goldman Sachs adjusted the gold price forecast, saying that by the end of 2025 the gold price will reach 2910 USD/ounce, instead of 3000 USD as previously expected, and the target of 3000 USD was moved to mid-2026. The reason is due to the Fed's interest rate reduction policy being less aggressive than expected and demand for gold ETFs decreasing.

3 วันที่ผ่านมา

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Gold adjusted down to 2,614 USD/oz

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▫️SPOT gold hit $2,640 an ounce or more, up 0.15% on the day.

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▫️Central Bank of China: China's gold reserves at the end of December were reported to be 73.29 million ounces (about 2279.58 tons), an increase of 330,000 ounces (about 10.27 tons) from a year ago there.

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🔴India's gold imports plummeted by $5 billion in November, the largest decrease

16 ชั่วโมงที่ผ่านมา

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Notably, contrary to inaccurate information from the Washington Post about the easing of sanctions, sanctions are actually having a positive impact on USD strength.

8 ชั่วโมงที่ผ่านมา

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ECB economic bulletin: Based on market expectations about future interest rate trends, loose financial conditions will also boost domestic demand.