Market Analysis for Today

Gold's price dropped late in the North American session, but it is set to finish the week with gains of over 0.40% as market players await the inauguration of US President-elect Donald Trump. Although the XAU/USD trades at $2,701, down 0.44%, investors continued to buy the golden metal due to political uncertainty.

The precious metal continues to be driven by geopolitics and politics in the United States (US). Although US Treasury bond yields in the belly of the curve remained unchanged, Bullion buyers failed to push prices higher to book additional gains ahead of the weekend.

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