Gold Prices Dip as Trump Tariff Threat Supports Dollar
Gold prices edged lower on Monday, weighed down by a stronger US dollar, which was boosted by President-elect Donald Trump’s tariff threats on BRICS nations, including India ¹.
Gold Price Forecast: What to Expect
The precious metal’s price is expected to remain under pressure, with investors awaiting fresh catalysts for the next direction. The US Federal Reserve’s policy decision in December and the release of employment-related macroeconomic data from the US could alter expectations and trigger the next big action in gold prices ².
Expert Trading Tips and Analysis for Gold, Silver, XAUUSD, Crude Oil, and Natural Gas
- Gold Trading Tips: Sell gold futures.
- Silver Trading Tips: Watch for breakout below $30.15.
- XAUUSD Trading Tips: Sell on rallies.
- Crude Oil Trading Tips: Monitor oil supply.
- Natural Gas Trading Tips: Track weather forecasts.
Key Market Data
- Gold prices fell 0.5% to $2,643.78/oz
- US Dollar Index rose 0.2% to 98.00
- Global gold demand decreased
Market Outlook
The current market sentiment is bearish for gold, with investors expecting further price declines amid ongoing dollar strength and rising geopolitical tensions.
Technical Analysis: Gold Prices
- Support levels: $2,630, $2,620
- Resistance levels: $2,670, $2,680