Gold in the new year 2025, continue SIDEWAY

✍️ NOVA hello everyone, Let's comment on gold price next week from 12/30/2024 - 01/03/2025

🔥 World situation:

Gold prices (XAU/USD) slip slightly in light post-Christmas trading, settling near $2,630 during the Asian session on Friday. Still, the safe-haven asset could gain support as markets await insights into the US economy under the incoming Trump administration and the Federal Reserve's 2025 interest rate plans.

As a non-yielding asset, gold benefits from moderate US PCE inflation data, which challenges expectations of minimal Fed rate cuts next year and suggests the possibility of further easing. Its safe-haven allure is further reinforced by persistent geopolitical tensions, including the ongoing Russia-Ukraine war and unrest in the Middle East.

🔥 Identify:
Gold continues SIDEWAY, market sentiment awaits new year 2025 and price trades above 2600


🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:

Resistance: $2638, $2665
Support : $2607, $2597, $2584


🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest