Fed Governor’s Surprising Remarks, Israeli Airstrikes Kill 77! Gold Prices Surge by $18 – How to Trade Gold On Thursday, January 17, spot gold prices jumped by $18.17 (+0.67%) to $2,714.35/oz, reaching a one-month high. The rally was fueled by: ✅ Dovish Fed comments: Governor Waller hinted at potential rate cuts in March, citing cooling inflation trends. ✅ Weak U.S. economic data: Core inflation missed forecasts, retail sales grew by just 0.4% (vs. 0.6% expected), and jobless claims unexpectedly rose to 217,000. ✅ Falling Treasury yields and USD: The 10-year U.S. Treasury yield dropped to 4.604%, and the Dollar Index (DXY) slid below 109. Middle East Tensions: Israel’s airstrikes on Gaza killed at least 77 people, escalating geopolitical risks and boosting gold’s safe-haven appeal. 💡 Analysts from FXStreet noted strong bullish momentum in gold, with resistance at $2,726 and further targets at $2,750 and $2,790. A break below $2,700 could test support at $2,656 or $2,639-$2,642. Gold remains a hedge against inflation and geopolitical uncertainties.