XAUUSDAs of January 23, 2025, gold (XAUUSD) is trading around $2,751.87 per ounce, slightly down from the previous day's near three-month peak of $2,763.43.
Technical analysis suggests that gold prices may continue to rise, with potential targets at $2,765 and $2,795.
However, analysts note that gold might face resistance around $2,759, which could trigger a correction.
Given these factors, if gold reaches the $2,760 level, it may encounter resistance, potentially leading to a price correction. This could present an opportunity to consider selling positions. However, it's crucial to monitor market conditions closely, as various factors, including U.S. trade policies and Federal Reserve decisions, can influence gold prices.
*Disclaimer: This information is for informational purposes only and should not be considered financial advice. Always consult with a financial advisor before making investment decisions.*
