USD soars, GOLD corrects but conditions remain bullish
After last week's surge, 
XAUUSD Spot trading suddenly suffered a fierce correction and the upward momentum was limited. US bond yields soared, the US Dollar strengthened and investors' profit-taking activities affected the trend of gold. In addition, news of a ceasefire in the Middle East also negatively impacted gold prices.
XAUUSD fell again as US Treasury yields rose to their highest since November 2023. The US Dollar Index surpassed 110.00 in trading on Monday, pressuring gold prices.
The dollar index rose to its highest since November 2022 after the US jobs report emphasized the strength of the economy and clouded the prospect of interest rate cuts by the Federal Reserve. A rising Dollar will make gold less attractive.
The latest New York Fed survey shows one-year inflation expectations at 3% and interest rate futures traders are pricing in a Fed rate cut this year of less than 25 basis points. copies, or less than once.
Because gold does not generate interest, a high interest rate environment reduces its appeal to investors.
A ceasefire in Gaza could take place as early as this week
White House national security adviser Jake Sullivan told Bloomberg on Monday that the Biden administration believes a ceasefire in Gaza could be reached as early as this week. He added that there was no guarantee that all parties would agree to such a deal.
In an interview with Bloomberg, Sullivan said US President Joe Biden's administration has contacted Trump's newly elected team and is looking to form a united front on this issue before the transfer of power in Washington on January 20.
Previously, Britain's Reuters quoted officials familiar with the negotiation process as saying on Monday that mediators had submitted a draft "final agreement" to the warring parties on a ceasefire and the release of children. believe. Officials said that in addition to delegations from both Israel and Kazakhstan, current US President McGurk and President-elect Trump's Middle East envoy Steve Witkoff were also present at the peace talks. hosted by Qatar Prime Minister Mohammed in Doha.
Reuters said the talks achieved a breakthrough after midnight on Sunday and mediators led by Qatar immediately submitted a draft ceasefire agreement to Israel and Kazakhstan.
Analysis of technical prospects forXAUUSD
Although gold has adjusted down significantly from the important confluence level, readers should pay attention to previous publications at the Fibonacci retracement of 0.382% confluence with the upper edge of the green price channel and one side of the triangle. purple price. But the downside correction was also limited after reaching target support at the 0.50% Fibonacci retracement level.
Currently, gold is recovering from the 0.50% Fibonacci level, but first it needs to break the technical point of 2,676 USD, then the target is around 2,693 - 2,700 USD in the short term.
Up to now, gold still has conditions to increase technically with supporting factors from EMA21, POC Volume Profile and the green short-term rising price channel.
Along with that, the Relative Strength Index maintained its activity above 50, also quite far from the overbought area, showing that there is still room for price increases ahead.
During the day, the technical outlook for gold is bullish with notable points listed as follows.
Support: 2,664 – 2,650USD
Resistance: 2,693 – 2,700USD
SELL XAUUSD PRICE 2688 - 2686⚡️
↠↠ Stoploss 2692
→Take Profit 1 2681
↨
→Take Profit 2 2676
BUY XAUUSD PRICE 2644 - 2646⚡️
↠↠ Stoploss 2640
→Take Profit 1 2651
↨
→Take Profit 2 2656
XAUUSD Spot trading suddenly suffered a fierce correction and the upward momentum was limited. US bond yields soared, the US Dollar strengthened and investors' profit-taking activities affected the trend of gold. In addition, news of a ceasefire in the Middle East also negatively impacted gold prices.XAUUSD fell again as US Treasury yields rose to their highest since November 2023. The US Dollar Index surpassed 110.00 in trading on Monday, pressuring gold prices.The dollar index rose to its highest since November 2022 after the US jobs report emphasized the strength of the economy and clouded the prospect of interest rate cuts by the Federal Reserve. A rising Dollar will make gold less attractive.
The latest New York Fed survey shows one-year inflation expectations at 3% and interest rate futures traders are pricing in a Fed rate cut this year of less than 25 basis points. copies, or less than once.
Because gold does not generate interest, a high interest rate environment reduces its appeal to investors.
A ceasefire in Gaza could take place as early as this week
White House national security adviser Jake Sullivan told Bloomberg on Monday that the Biden administration believes a ceasefire in Gaza could be reached as early as this week. He added that there was no guarantee that all parties would agree to such a deal.
In an interview with Bloomberg, Sullivan said US President Joe Biden's administration has contacted Trump's newly elected team and is looking to form a united front on this issue before the transfer of power in Washington on January 20.
Previously, Britain's Reuters quoted officials familiar with the negotiation process as saying on Monday that mediators had submitted a draft "final agreement" to the warring parties on a ceasefire and the release of children. believe. Officials said that in addition to delegations from both Israel and Kazakhstan, current US President McGurk and President-elect Trump's Middle East envoy Steve Witkoff were also present at the peace talks. hosted by Qatar Prime Minister Mohammed in Doha.
Reuters said the talks achieved a breakthrough after midnight on Sunday and mediators led by Qatar immediately submitted a draft ceasefire agreement to Israel and Kazakhstan.
Analysis of technical prospects for
XAUUSD Although gold has adjusted down significantly from the important confluence level, readers should pay attention to previous publications at the Fibonacci retracement of 0.382% confluence with the upper edge of the green price channel and one side of the triangle. purple price. But the downside correction was also limited after reaching target support at the 0.50% Fibonacci retracement level.
Currently, gold is recovering from the 0.50% Fibonacci level, but first it needs to break the technical point of 2,676 USD, then the target is around 2,693 - 2,700 USD in the short term.
Up to now, gold still has conditions to increase technically with supporting factors from EMA21, POC Volume Profile and the green short-term rising price channel.
Along with that, the Relative Strength Index maintained its activity above 50, also quite far from the overbought area, showing that there is still room for price increases ahead.
During the day, the technical outlook for gold is bullish with notable points listed as follows.
Support: 2,664 – 2,650USD
Resistance: 2,693 – 2,700USD
SELL XAUUSD PRICE 2688 - 2686⚡️
↠↠ Stoploss 2692
→Take Profit 1 2681
↨
→Take Profit 2 2676
BUY XAUUSD PRICE 2644 - 2646⚡️
↠↠ Stoploss 2640
→Take Profit 1 2651
↨
→Take Profit 2 2656
註釋
Gold price increased slightly:
- Spot gold is at 2669.36 USD/ounce, increasing thanks to concerns about President-elect Trump's policies and investors adjusting their positions before US inflation data.
註釋
USD decreased slightly: The strong increase in USD stopped, the market was cautious before US CPI inflation data. The USD fell because the PPI index was lower than expected, pulling US government bond yields down.註釋
註釋
Spot gold reached 2,680 USD/ounce, up 0.11% on the day.註釋
The US CPI index in December increased lower than forecast. This development not only helps calm the sell-off wave in the bond market but also strengthens the belief that the Fed can cut interest rates sooner than expected.註釋
Spot gold fell below 2,690 USD/ounce, down 0.23% on the day.註釋
▫️ Spot Gold lost $2,710 per ounce, down 0.16% on the day.註釋
The dollar weakened further as Retail Sales and Initial Jobless Claims in December signaled a slowdown in post-CPI deflation.
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🧩Forex signals have a high win rate
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