Ethereum price (ETHUSD) declined strongly to succeed touching our suggested negative target at 3017.30$, and the way seems open to surpass this level and suffer additional losses on the intraday and short-term basis, noting that confirming the break will push the price towards 2765.00$ as a next negative station.
On the other hand, we should note that the consolidation of 3017.30$ level against the current negative pressure will lead the price to attempt to recover and build bullish wave that targets testing 3222.00$ areas initially.
The expected trading range for today is between 2950.00$ support and 3200.00$ resistance.
Gold price extends pullback from three-month highs of $2,786 early Monday.
Pre-Fed profit-taking and Trump’s trade war-led US Dollar resurgence weigh on Gold price.
Gold price tests symmetrical triangle target at $2,785 or record highs, where next?
Gold price is retreating further from three-month highs just shy of the all-time peak of $2,790 early Monday. Gold buyers turn cautious heading into a big week, with the central focus on US President Donald Trump’s trade policies and the US Federal Reserve (Fed) policy announcements.
Gold price pulls back before the next leg up
That said, Gold traders resort to liquidating their long positions to take profits off the table as the bright metal fell a thread line short of the record highs. Further, repositioning ahead of the Fed event risk also remains a weight on the Gold price.
Additionally, resurgent demand for the US Dollar (USD) as a safe-haven currency following mounting fears of a global trade war capped the upside in the USD-denominated Gold price.
On Sunday, President Trump slapped a 25% tariff on all Colombian imports, which would be escalated to 50% in a week after the South American country refused to allow two military planes carrying deported migrants to land as part of the new US administration’s immigration crackdown. Colombia’s President Gustavo Petro threatened his own 50% tariff hours later.
Meanwhile, the Wall Street Journal (WSJ) carried a gated report on Monday, citing that US President Trump’s advisers want to impose 25% tariffs on Mexico and Canada as soon as February 1. An unnamed ‘senior administration official’ in the report said Trump is willing to move quickly, citing the President’s imposition of tariffs on Colombia.
An unexpected contraction in China’s manufacturing sector contributed to the risk-off market environment. The January official purchasing managers’ index (PMI) came in at 49.1, the National Bureau of Statistics (NBS) said on Monday, missing the estimated reading of 50.1.
Later in the day, Trump’s tariff plans will continue to drive risk sentiment, eventually impacting the Greenback and the Gold price without top-tier US economic data releases.
On Friday, Gold price rally extended and buyers almost tested the lifetime highs of $2,790 as the USD got slammed across the board following the release of downbeat US S&P Global preliminary business PMI data.
The preliminary US Composite PMI Output Index, which tracks the manufacturing and services sectors, declined to 52.4 in January, hitting the lowest level since April and was significantly down from December’s 55.4.
The US PMI data added to the recent slew of dismal statistics, reinforcing bets for two Fed interest rate cuts this year and rendering negative for the Greenback.
Gold price technical analysis: Daily chart
The daily chart shows that the short-term technical outlook remains constructive for Gold price despite the latest retracement from near a record peak.
Gold price achieved the symmetrical triangle target, measured at $2,785 on Friday but failed to yield a daily candlestick closing above it, which prompted buyers to turn on the sidelines.
Gold price charted a symmetrical triangle breakout earlier this month.
The 14-day Relative Strength Index (RSI) has turned lower after prodding the overbought region, currently near 65. The leading indicator suggests that Gold price remains a good dip-buying opportunity.
Adding credence to the bullish potential, the 50-day SMA closed above the 100-day SMA on Thursday, confirming a Bull Cross.
Gold price must seek a daily closing above the record high of $2,790 to set a new highest level ever above $2,800. Buyers will then aim for the $2,850 psychological level.
However, if the Gold price correction extends, immediate support will be seen at the January 23 low of $2,736.
Sellers will then aim for the $2,700 round level, below which the 21-day SMA at $2,686 will come into play.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
The EURUSD price is testing the key support base 1.0455$, noticing that stochastic gains the positive momentum clearly, waiting to motivate the price to resume the expected bullish trend for today, which its next target located at 1.0600$.
We remind you that it is important to hold above 1.0455$ to continue the expected rise, as breaking it represents the key to turn to decline and build bearish wave that its first main target reaches 1.0325$.
The expected trading range for today is between 1.0400$ support and 1.0540$ resistance
The GBPJPY pair recorded more positive gains on last Friday by touching 194.75 level, while we notice opening this morning with negative gap by declining towards 193.45 to settle near the MA55 and keep its stability above the additional support 191.80.
We expect to form mixed trades due to stochastic consolidation within the overbought areas to keep waiting to succeed to gain the additional positive momentum and manage to jump above 194.30 level again, to open the way to form new bullish rally and reach the next target at 195.55.
The expected trading range for today is between 193.10 and 195.55
Silver price struggles as traders prepare for the upcoming Fed policy decision this Wednesday.
Trump’s policies could lead the Fed to stay cautious, given that these policies are seen as inflationary.
The dollar-denominated metals like Silver faces concerns about the recent rebound in the US Dollar.
Silver price (XAG/USD) has retraced its gains, trading around $30.30 per troy ounce during the Asian session on Monday. The non-interest-bearing metal faces challenges with the upcoming US Federal Reserve (Fed) policy decision this week. There is widespread anticipation that the Fed will maintain current interest rates, marking the first pause in the rate-cutting cycle that began in September.
The uncertainty surrounding US President Donald Trump’s trade and immigration policies could prompt the Federal Reserve to remain cautious about cutting rates this year. Trump’s policies are perceived as inflationary, which might lead the central bank to keep rates higher for a longer period, diminishing the appeal of Silver.
Additionally, concerns about the recent rebound in the US Dollar (USD) are pressuring the precious metals including Silver. The Greenback has regained some strength amid renewed tariff concerns after Trump announced plans to impose tariffs and sanctions on Colombia, following the country’s refusal to allow US military planes carrying deported migrants.
However, in a surprising turn of events, the White House announced that Colombia has agreed to all terms, easing some of the tensions. Colombia’s Foreign Minister confirmed that the “impasse with the US has been overcome.”
The Wall Street Journal (WSJ) reported growing momentum among Trump’s advisers to impose 25% tariffs on Mexico and Canada starting February 1. Trump’s advisers are adamant about not waiting for negotiations or talks.
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Crude oil price opens today with clear negativity to move away from 75.53$ level, reinforcing the expectations of continuing the bearish correction in the upcoming sessions, affected by the previously completed head and shoulders’ pattern, waiting to test 73.90$ as a next target, noting that breaking this level will push the price towards 72.30$ direct.
The EMA50 continues to support the suggested bearish wave, which will remain valid conditioned by the price stability below 75.53$.
The expected trading range for today is between 73.30$ support and 76.30$ resistance
Gold price drifts lower to near $2,765 in Monday’s early Asian session.
Trump imposed 25% tariffs on Colombia as deported migrant flights were denied, lifting the USD.
The Fed is expected to leave rates unchanged on Wednesday.
Gold price (XAU/USD) edges lower to around $2,765 during the early Asian session on Monday, pressured by the renewed US Dollar (USD) demand. However, the potential downside for the precious metal might be limited amid the cautious mood and uncertainty surrounding tariff measures by US President Donald Trump.
The Greenback strengthens as Trump kicks off a trade war with tariffs. On Sunday, Trump imposed sweeping retaliatory measures on Colombia, including tariffs and sanctions, after the South American country refused to allow two military planes carrying deported migrants to land. Trump said that he will order an emergency 25% tariff on all Colombian goods coming into the US, which will be raised to 50% in a week. This headline weighs on the USD-denominated commodity price.
Gold traders expect the US Federal Reserve (Fed) to hold interest rates steady at its January meeting on Wednesday. The FOMC Press Conference will be closely watched as it might offer some hints about the US rate path. At the World Economic Forum last week, Trump called for an immediate interest rate cut, causing the USD to hit its lowest level in over a month and supporting the Gold price. However, if the Fed officials deliver hawkish remarks this week, this might drag the non-yielding yellow metal lower.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Citi increased its oil price forecast today with expectations for geopolitical conflicts to drive the price of the energy source higher in 2025. The bank expects Brent crude to rise to an average of $67 a barrel this year, compared to its prior estimate of $62 per barrel. Citi’s average 2025 forecast for WTI crude was also increased to $63 a barrel.
A Citi note explained its reasoning behind these updated oil price forecasts. The firm believes “heightened, sustained geopolitical risks in Iran/Russia-Ukraine” could “potentially wipe out the 2025 oil balance surplus.”
How Will Trump Affect Oil Prices in 2025?
While Citi expects oil prices to increase, a wild card could change things. The bank notes that President Donald Trump “appears intent on dealmaking.” This could alter oil prices if the new President can resolve geopolitical conflicts between nations.
Additionally, President Trump wants to increase oil production in the U.S. He’s already announced an energy emergency, allowing additional oil production and looser regulations for the sector. Trump also rolled back the government’s climate change commitments and electric vehicle (EV) mandate, putting oil back in focus as the main energy source in the U.S. moving forward.
How Does This Affect Oil Stocks?
Oil stocks will likely benefit from the Trump administration’s stances. Fewer regulations and faster permit grants could see the market take off over the next four years. As such, investors might consider taking a stake in oil stocks to get ahead of those potential gains.
Turning to the TipRanks comparison tool, traders will see some of the best oil stocks. If it’s a huge upside potential and Wall Street’s backing that traders seek, then ConocoPhillips (COP) is one of the best bets with its Strong Buy rating and $134.33 price target, representing a potential 28.82% upside. Chevron (CVX) is another powerful option with the same rating and a $175.56 price target, representing a possible 10.85% upside.
Silver rebounds from $30.36, crosses 50-day SMA but struggles with higher resistance levels.
RSI indicates rising buyer interest; however, significant resistance at $32.32 still challenges momentum.
For bearish trend to resume, silver must fall below 200-day SMA and $30.00, with next supports at $29.51 and $28.89.
Silver price recovers some ground and trades with gains of 0.91% yet it has failed to clear key resistance at the 100-day Simple Moving Average (SMA) at $30.95. At the time of writing, XAG/USD trades at $30.70 after bouncing off a low of $30.36.
XAG/USD Price Forecast: Technical outlook
Silver recovered after testing the 200-day SMA near $30.05 and rose above the 50-day SMA but faces stir resistance at $30.95. The trend is tilted to the downside as the grey metal carved a series of successively lower highs and lower lows. Even though the Relative Strength Index (RSI) suggests that buyers are gathering momentum, the grey metal has to surpass $32.32, the latest cycle high hit on December 12.
On the other hand, sellers must surpass the 200-day SMA and the $30.00 mark for a bearish continuation. Once taken out, the next support would be the January 13 low of $29.51, followed by the January 1 low of $28.89.
XAG/USD Price Chart – Daily
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
Gold price shows sideways trades now, and it might test the key support base 2762.00$ before turning back to rise again, as it is affected by stochastic negativity that hinders the mission of continuing the rise.
Until now, the bullish trend scenario still suggested for today unless breaking the mentioned support and holding below it, reminding you that our main waited target reaches 2790.00$.
The expected trading range for today is between 2755.00$ support and 2795.00$ resistance.
