Gold Market Outlook 08 January 2025

Gold Market Outlook 08 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 (XAU/USD) continues to navigate a complex macro environment characterized by competing fundamental drivers. Recent economic data, particularly the stronger-than-expected ISM Services PMI (54.1) and JOLTS job openings (8.098M), has reinforced the Federal Reserve's cautious stance on rate cuts, as evidenced by the metal's sharp rejection from .... This fundamental shift is clearly visible in the price action, with increased selling pressure emerging above .... However, the downside remains supported by escalating geopolitical tensions, particularly concerning potential military intervention in Gaza, and uncertainty surrounding President-elect Trump's trade policies. The rejection of reports suggesting a softer stance on tariffs has maintained a floor under gold prices, with institutional buying emerging near the ... technical support, as confirmed by elevated volume profiles in this region.

From a technical perspective, the daily chart reveals a well-defined consolidation pattern, with prices respecting key technical levels. Primary support at ... is established through multiple successful tests (...-...) in late December, accompanied by strong buying volume. This level gains additional technical significance from the convergence with the 100-day EMA (...). The formation of progressively higher lows from this zone, including the recent ... level, reinforces the bullish structure emerging from this support. The immediate resistance at ... (recent high) has proven formidable, with multiple rejections occurring on declining volume. A break above this level would target the significant November-December swing high at ..., which served as a key pivot point during the recent consolidation phase.

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

c

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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