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Analysis of today's market
Abstract：Despite the dollar taking a hit, gold prices remained flat at the beginning of this week. Higher U.S. Treasury yields put pressure on gold, while U.S. President-elect Donald Trump dominated headlines
Despite the dollar taking a hit, gold prices remained flat at the beginning of this week. Higher U.S. Treasury yields put pressure on gold, while U.S. President-elect Donald Trump dominated headlines amid confusion over his tariff plans. Gold was trading at $2,638, showing little change.
Gold failed to capitalize on the sudden weakness of the dollar to rise. The upcoming agenda of the Trump administration may reignite inflation fears, prompting a surge in U.S. Treasury yields as concerns grow that a Republican-controlled Congress may increase the government's budget deficit.
Gold opened at 2636 and rose to a high of near 2637 since then, with a low near 2632. Keep an eye on the resistance levels at 2670-2680-2690. If these levels are not breached, a test of 2630-2620-2610 will be in sight.
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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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