Technical analysis and review simulation of spot Gold on January 22.
On Wednesday (January 22), during the European session, there was a significant increase, with Gold trading around 2752 USD. It was mentioned in yesterday's review that the short-term price leans towards bullishness, and after the pullback is completed, it is expected to test the 2750 USD Range resistance. Currently, the price has not accelerated, and there is potential for an inherent bullish trend in Gold prices. This round of increase is mainly driven by risk aversion sentiment, combined with the decline in USD, showing a clear inverse correlation. The bullish running continues throughout the day, awaiting acceleration. It is important to note that the short-term volatility is amplifying, and it is nearing previous high levels, so one should try to buy low rather than chase the rise. In terms of the chart, the daily MACD rebound continues, and momentum remains robust.
Gold Trade Reminder: Trump "waves the tariff stick," and gold prices surge to refresh over two-month highs.
On Wednesday (January 22), in the Asian market, spot Gold fluctuated narrowly at a high level, currently trading around $2743.70 per ounce. On Tuesday, the Gold price surged by 1.39%, jumping to a new high of $2745.83 per ounce in over two months, closing at $2744.59 per ounce, supported by a soft USD, as the market flocked to safe-haven Gold amidst uncertainties regarding potential tariffs imposed by President Trump. The USD rebounded on Tuesday but fell back after hitting a two-week low of 107.86 during the session, closing down 0.12% at 10794, making Gold cheaper for holders of Other currencies.
DWS: The likelihood of a continued strong rise in the U.S. stock market in 2025 is low, and Gold is expected to fluctuate within a narrow range.
DWS, a German Asset Management company, has released its market outlook for January 2025.
Technical analysis and review simulation of spot Gold on January 21.
On Tuesday (January 21), during the European trading session, there was a significant rise, with Gold trading around 2726 USD. In yesterday's review, it was mentioned that there is a possibility for the price to test 2700 USD in the short term and continue to strengthen, currently having broken through a dense Range of resistance. Overall, the structure still has the momentum to accelerate upwards, but it should be noted that the current rise in risk aversion is leading to the strengthening of Gold prices, while the USD is declining, creating a resonance of multiple factors. Fundamentally, continue to monitor changes in market risk aversion, while also watching whether the USD strengthens again after making adjustments, with Gold prices mainly biased towards going up during the day. + From the graphical perspective, the daily MACD rebound continues.
Gold Holds Gain as Reduced Threat of US Trade War Hurts Dollar
Gold Price Forecast: XAU/USD Remains Focused on All-time Highs