Gold Market Outlook 07 January 2025

Gold Market Outlook 07 January 2025

Gold bars on a red background with a bar graph, representing the AI trading market and the gold trading news.

Article by: ETO Markets

Gold prices (XAU/USD) edged higher during the Asian session on Tuesday, extending their overnight recovery from the ... zone, though bullish momentum remained limited. Support for the precious metal stemmed from expectations that US President-elect Donald Trump's proposed tariffs and protectionist policies could fuel inflation, reinforcing gold's appeal as an inflation hedge. Additionally, ongoing geopolitical risks, including the protracted Russia-Ukraine conflict and tensions in the Middle East, bolstered the safe-haven demand for gold. However, the metal faced headwinds from the potential for slower interest rate cuts by the Federal Reserve in 2025, which continue to support elevated US Treasury yields, along with renewed US Dollar strength. Traders appeared cautious, refraining from making aggressive bets ahead of key economic events this week, including the FOMC minutes release and the US Nonfarm Payrolls (NFP) report, set for Wednesday and Friday, respectively.

From a technical perspective, Gold's resilience above the 100-day Simple Moving Average (SMA) during the overnight session, along with a rebound, signals caution for bearish traders. Oscillators on the daily chart recovering from negative territory further support the potential for near-term upside. Immediate resistance lies near the ... zone, followed by the ... level, which marks last Friday's multi-week high. A sustained move beyond these levels could drive momentum towards intermediate resistance at ..., eventually challenging the pivotal ... mark supported by the December high. On the downside, the 100-day SMA near ..., the overnight low at ..., and the psychological ... level are expected to provide support. A breach of December's swing low around ... could trigger renewed bearish pressure.

Want completely chart technical analysis
and trade recommendations on XAUUSD?

Want completely chart technical analysis
and trade recommendations on XAUUSD?

Want completely chart technical analysis
and trade recommendations on XAUUSD?

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ETO Markets Limited is registered in Seychelles with Company Number 850672-1 and authorised by the Financial Services Authority (FSA), Licence Number SD062; ETO Markets LLC is registered in Saint Vincent and the Grenadines with Company Number 3286LLC2023.


The information provided on this website is general in nature only and does not constitute personal financial advice. Please note that investing in CFDs and Margin FX Contracts carries significant risks and is not suitable for all investors. You don’t own, or have, any interest in the underlying assets. Any information or general financial product advice given is generic in nature and does not take into account your financial situation, needs or personal objectives. Past performance is not a reliable indicator of future performance. Investing in leveraged products carries significant risks. We recommend that you seek independent advice and ensure that you fully understand the risks involved before trading. It is important that you read and consider our disclosure documents
(Privacy Policy & Risk Disclosure) before you acquire any product.

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Disclaimer

ETO Markets Limited is registered in Seychelles with Company Number 850672-1 and authorised by the Financial Services Authority (FSA), Licence Number SD062; ETO Markets LLC is registered in Saint Vincent and the Grenadines with Company Number 3286LLC2023.


The information provided on this website is general in nature only and does not constitute personal financial advice. Please note that investing in CFDs and Margin FX Contracts carries significant risks and is not suitable for all investors. You don’t own, or have, any interest in the underlying assets. Any information or general financial product advice given is generic in nature and does not take into account your financial situation, needs or personal objectives. Past performance is not a reliable indicator of future performance. Investing in leveraged products carries significant risks. We recommend that you seek independent advice and ensure that you fully understand the risks involved before trading. It is important that you read and consider our disclosure documents
(Privacy Policy & Risk Disclosure) before you acquire any product.

2024 ETO Markets | All rights reserved

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Disclaimer

ETO Markets Limited is registered in Seychelles with Company Number 850672-1 and authorised by the Financial Services Authority (FSA), Licence Number SD062; ETO Markets LLC is registered in Saint Vincent and the Grenadines with Company Number 3286LLC2023.


The information provided on this website is general in nature only and does not constitute personal financial advice. Please note that investing in CFDs and Margin FX Contracts carries significant risks and is not suitable for all investors. You don’t own, or have, any interest in the underlying assets. Any information or general financial product advice given is generic in nature and does not take into account your financial situation, needs or personal objectives. Past performance is not a reliable indicator of future performance. Investing in leveraged products carries significant risks. We recommend that you seek independent advice and ensure that you fully understand the risks involved before trading. It is important that you read and consider our disclosure documents
(Privacy Policy & Risk Disclosure) before you acquire any product.

2024 ETO Markets | All rights reserved

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