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Since November 2024, gold prices have been consolidating within a rising wedge pattern. Amidst market uncertainties, prices declined but found robust support around the $2,960 level, underscoring gold's role as a safe-haven asset. Following this support, prices have begun to align with underlying fundamentals. With the Consumer Price Index (CPI) data release scheduled for tomorrow, there is anticipation that gold prices may retest the $3,165 resistance level.
Recent analyses indicate that gold has surged to record levels, surpassing $3,000 per ounce and reaching $3,167.57, driven by mounting geopolitical and economic uncertainties. Additionally, HSBC has revised its gold price forecasts upward, now projecting average prices of $3,015 per ounce in 2025, citing increased geopolitical tensions and economic uncertainties. These factors contribute to the expectation of gold approaching the $3,165 level once more.
Following President Trump's inauguration, gold prices experienced a notable surge, underscoring its status as a safe-haven asset amid market uncertainties. The implementation of substantial tariffs and escalating geopolitical tensions have introduced significant uncertainty, adversely affecting various markets, including cryptocurrencies, equities, and currencies. Despite this widespread market volatility, gold has maintained its appeal as a refuge for investors during periods of uncertainty and fear. Given the current climate, there is an anticipation that gold may reach new all-time highs.
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Since November 2024, gold prices have been consolidating within a rising wedge pattern. Amidst market uncertainties, prices declined but found robust support around the $2,960 level, underscoring gold's role as a safe-haven asset. Following this support, prices have begun to align with underlying fundamentals. With the Consumer Price Index (CPI) data release scheduled for tomorrow, there is anticipation that gold prices may retest the $3,165 resistance level.
Recent analyses indicate that gold has surged to record levels, surpassing $3,000 per ounce and reaching $3,167.57, driven by mounting geopolitical and economic uncertainties. Additionally, HSBC has revised its gold price forecasts upward, now projecting average prices of $3,015 per ounce in 2025, citing increased geopolitical tensions and economic uncertainties. These factors contribute to the expectation of gold approaching the $3,165 level once more.
Following President Trump's inauguration, gold prices experienced a notable surge, underscoring its status as a safe-haven asset amid market uncertainties. The implementation of substantial tariffs and escalating geopolitical tensions have introduced significant uncertainty, adversely affecting various markets, including cryptocurrencies, equities, and currencies. Despite this widespread market volatility, gold has maintained its appeal as a refuge for investors during periods of uncertainty and fear. Given the current climate, there is an anticipation that gold may reach new all-time highs.
Follow and hit a like for more:)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.