GOLD → Breaking the resistance level. Growing interest

3 янв.

XAUUSD enjoys interest despite the growing dollar. Geopolitical and economic crisis is the reason for seeking safe harbor. The price is breaking resistance and trying to renew local highs



On the first trading day of the new 2025, gold rose along with DXY amid escalating geopolitical conflicts in the Middle East and eastern Europe and rising tensions around the upcoming policies of Trump and the Fed.
Traders are awaiting US manufacturing PMI data from ISM and the Fed President's speech due later on Friday for more trade stimulus for the gold price.

Support levels: 2649, 2639
Resistance levels: 2675, 2690

A false breakdown of key support areas is possible. If after the false breakdown the bulls hold the defense above 2639 - 2649, gold may strengthen to 2675 - 2690 in the short term.

Regards R. Linda!