Gold prices continue to increase from the level 2675

15 Jan

XAUUSD continuing the uptrend in local and medium-term timeframes. The price is once again testing strong resistance levels on the H4 chart, with prospects for a breakout toward the 2700–2750 range.

The US Dollar remains near weekly lows, touched after weaker-than-expected US PPI data on Tuesday, providing key support for the market, including gold. Attention now shifts to the upcoming CPI report, a critical release that could reshape market expectations for Fed rate cuts this year. A stronger-than-expected CPI could increase pressure on gold, while a weaker report would bolster buying momentum. Additionally, the Fed’s hawkish stance is supported by the premise that Trump, beginning his second term next week, may drive inflation higher with protectionist policies.
From a technical perspective, significant volume lies ahead, which could trigger a minor pullback toward support before the uptrend resumes.

Key short-term levels to watch:
Support: 2678, 2670
Resistance: 2690, 2697

However, in both the short and medium term, everything hinges on the upcoming scheduled news. Stay focused on these critical levels, traders!

Best regards, Bentradegold!

16 Jan

Dagangan aktif

22 Jan

Dagangan ditutup: sasaran tercapai