Market Analysis for Today

Golds price (XAU/USD) is staying afloat above $2,700 despite an earlier decline to $2,689 during the Asian session, while traders are still concerned over President-elect Donald Trump, who will be sworn in as the 47th United States (US) President later in the day. Traders are assessing what to do in their Bullion positioning with concerns about Trump's policies, including tariffs and immigration, which could boost Gold's value as a haven but also lift the US Dollar (USD). Heightened political and trade uncertainties and geopolitical tensions fueled the recent gains in Gold.

Gold opened at around 2702 and rose to around 2703 at the highest and around 2691 at the lowest before press time.Pay attention to the resistance of 2720-2730-2740 If it fails to break through, it will test 2680-2670-2660