Gold price forecast in the near future

Gold will come under further pressure if the US labor market remains strong, reducing the Fed's interest rate lowering cycle.

The gold market is concerned about some of President-elect Donald Trump's policies related to the strength of the USD in the upcoming term.

GDP growth at 3% and a lower trade deficit during Mr. Trump's term will not be affected by the imposition of tariffs and the weakening of the dollar. A weaker greenback will benefit gold.

Many analysts predict that gold's support price of 2,600 USD/ounce will still maintain and tend to increase from there. Gold price will reach 3,000 USD/ounce next year.

🔥 XAUUSD SELL 2647 2649🔥

💵 TP1: 2635
💵 TP2: 2625
💵 TP3: OPEN

🚫 SL: 2656