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Gold price forecast in the near future

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Gold will come under further pressure if the US labor market remains strong, reducing the Fed's interest rate lowering cycle.

The gold market is concerned about some of President-elect Donald Trump's policies related to the strength of the USD in the upcoming term.

GDP growth at 3% and a lower trade deficit during Mr. Trump's term will not be affected by the imposition of tariffs and the weakening of the dollar. A weaker greenback will benefit gold.

Many analysts predict that gold's support price of 2,600 USD/ounce will still maintain and tend to increase from there. Gold price will reach 3,000 USD/ounce next year.


🔥 XAUUSD SELL 2647 2649🔥

💵 TP1: 2635
💵 TP2: 2625
💵 TP3: OPEN

🚫 SL: 2656

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