Gold Prices Slightly Strengthen
Gold prices moved slightly up in European trading on Tuesday (12/31).
Marking its strongest annual performance since 2010 with a 26% increase for 2024. The surge was driven by US monetary easing, ongoing geopolitical tensions, and record central bank purchases. Gold prices started trading in Asia this morning at $2607/Toz.
Looking ahead to 2025, investors weighed the impact of US monetary policy uncertainty, potential challenges under the Trump presidency, and China's push for economic recovery. Notably, gold's rise occurred despite a stronger US dollar and higher Treasury yields, which are usually headwinds to its growth.
RECOMMENDATION
- Buy if price moves to around $2620
- Sell if price moves to around $2610
Resistance Level 2: $2627
Resistance Level 1: $2620
Support Level 1: $2610
Support Level 2: $2603
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in the transaction before making an investment decision.
Source: Newsmaker