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Indonesia News Portal for Traders | Financial & Business Updates

7 January 2025 22:29  |

Gold prices surge and seek new highs

Gold (XAU/USD) prices surged higher on Tuesday after the market decided to focus on the US debt issuance that will shake up the bond market this week with a large allocation of 10-year and 30-year bonds.

Market participants are starting to worry whether the large amount of debt and its size does not pose a risk that a larger premium will need to be paid (higher interest rates) to get the allocation of issuance.

The market also remains wary of a series of recent comments and headlines about the US tariff plan that President-elect Donald Trump wants to implement.

RECOMMENDATIONS

- Buy if the price moves to around $2658

- Sell if the price moves to around $2644

Resistance Level 2: $2668

Resistance Level 1: $2663

 

Support Level 1: $2639

Support Level 2: $2634

DISCLAIMER

Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in trading before making investment decisions.

Source: Newsmaker

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