Bitcoin price (BTCUSD) opened today’s trading with clear positivity to surpass 100000.00$ barrier and confirm the continuation of the bullish trend domination on the intraday basis, and the way is open to achieve our next waited target at 103500.00$, noting that surpassing this level will push the price to head towards the historical high at 108350.45$ as a next main station.
Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 99695.00$ will put the price under negative pressure and might target the key support 95195.00$ before any new attempt to rise.
The expected trading range for today is between 99500.00$ support and 104500.00$ resistance.
Silver price could appreciate further due to robust economic figures from China released on Friday.
China’s Industrial Production grew by 6.2% YoY in December, marking the fastest industrial output growth since April.
The non-yielding Silver appreciated as softer US data sparked speculation of the Fed implementing two interest rate cuts in 2025.
Silver price (XAG/USD) holds steady after three consecutive days of gains, trading near $30.80 per troy ounce during the Asian session on Friday. The industrial demand for the grey metal may rise further, supported by strong economic data from China.
China’s Industrial Production grew by 6.2% year-over-year in December, exceeding market expectations and the 5.4% growth rate recorded in November. This marks the fastest industrial output growth since April, driven largely by stronger manufacturing activity following stimulus measures introduced in September.
Additionally, China’s Gross Domestic Product (GDP) expanded by 5.4% YoY in Q4 2024, up from 4.6% in Q3. Quarterly, the economy grew by 1.6% in Q4, aligning with market forecasts, compared to a 0.9% increase in the previous quarter.
The price of the non-yielding metal found support amid rising expectations that the Federal Reserve (Fed) will lower interest rates this year. This dovish outlook for the Fed gained traction following weaker-than-expected US Retail Sales data released on Thursday. Retail sales rose by 0.4% month-over-month (MoM) in December, totaling $729.2 billion. This figure fell short of market expectations for a 0.6% increase and was lower than the previous month’s 0.8% rise (revised from 0.7%).
Furthermore, softer-than-expected underlying inflation in the US has fueled speculation that the Fed could implement two rate cuts this year. The core Consumer Price Index (CPI), which excludes volatile food and energy prices, rose by 3.2% year-over-year (YoY) in December, slightly below both the previous month’s 3.3% increase and market forecasts of 3.3%. Monthly, the core CPI grew by 0.2%, compared to a 0.3% rise in the prior month.
Silver, a non-interest-bearing asset, finds additional support as US Treasury bond yields for the 2-year and 10-year notes stand at 4.23% and 4.60%, respectively, at the time of writing. Both yields are on track for a weekly decline of over 3%.
The US Dollar Index (DXY), which measures the USD’s performance against six major currencies, hovers near 109.00 and remains subdued for the fifth consecutive session. A weaker USD makes Silver more affordable for buyers using foreign currencies, boosting demand for the precious metal.
In addition, expectations of lower interest rates extend to the United Kingdom (UK), where economic data showed mixed signals. British GDP grew by 0.1% month-over-month (MoM) in November 2024, rebounding from contractions of 0.1% in both October and September. However, this growth fell short of the anticipated 0.2% increase.
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.
The USDCHF price continued to decline to break the intraday bullish channel’s support line, to head towards achieving expected decline in the upcoming sessions, targeting testing 0.9035 – 0.9014 levels.
Therefore, the bearish bias will be suggested for today, noting that the expected decline is temporary, waiting to resume the main bullish trend, taking into consideration that breaching 0.9145 will stop the suggested negative scenario and push the price to rise again.
The expected trading range for today is between 0.9035 support and 0.9180 resistance.
Gold price treads water below the monthly high of $2,725 early Friday.
The US Dollar and Treasury bond yields sustain correction amid renewed dovish bets.
Gold traders could cash in, repositioning for Trump’s inauguration on Monday.
Technically, Gold price remains a ‘buy-the-dip’ trade, per the daily chart.
Gold’s price has paused its three-day uptrend to monthly highs of $2,725 as buyers catch a breather ahead of the weekend and US President-elect Donald Trump’s inaugural ceremony on Monday.
Gold price could pullback before the next leg up
Gold price has entered a bullish consolidation phase and could risk a near-term correction before resuming the uptrend toward all-time highs of $2,790. The bright metal fails to find any inspiration from stronger-than-expected China’s Gross Domestic Product (GDP) for the fourth quarter (Q4) of 2024, which came in at 5.4% over the year, compared to the 5.% estimates and the previous reading of 4.6%. Chinese Retail Sales and Industrial Production data also surpassed forecasts. China is the world’s top Gold consumer.
Chinese economy achieved its 5% growth target in the final quarter of last week but that optimism seems to be overshadowed by concerns over China’s property market and looming tariffs proposed by US President-elect Trump.
However, the downside in Gold price remains cushioned by reinforced expectations that the US Federal Reserve (Fed) will deliver two interest rate cuts this year, following the tame December inflation data released earlier this week. Dovish Fed bets continue to exert downward pressure on the US Treasury bond yields and the US Dollar (USD), underpinning the non-interest-bearing Gold price.
Mixed US Retail Sales and disappointing Initial Jobless Claims data, released on Thursday, added to the market expectations for Fed rate cuts. Initial Claims for state unemployment benefits rose to a seasonally adjusted 217,000 for the week ended Jan. 11, the Labor Department said on Thursday, missing the expected 210,000 figure.
However, Fed Governor Christopher Waller’s commentary exacerbated the pain in US Treasury bond yields and the Greenback. “If price pressures continue on the current path of decelerating, it’s reasonable to think rate cuts could possibly happen in the first half of the year,” Waller said in Thursday’s interview with CNBC.
Next of note for Gold traders, in terms of economic data, are the mid-tier US housing data and Industrial Production. The data could provide fresh trading incentives for Gold price. Further, the end-of-the-week flows and profit-taking on the recent long positions could also act as headwinds for the bullion.
Gold price technical analysis: Daily chart
The short-term technical outlook for Gold price continues to favor of Gold buyers as the previous week’s symmetrical triangle breakout remains in play and the yellow metal holds well above all the major daily simple moving averages (SMA).
The 14-day Relative Strength Index (RSI) has flattened above the midline, currently near 63.50, suggesting that Gold price could see a brief pullback before moving higher.
Gold price eyes acceptance above the key static resistance at $2,726 to extend the uptrend toward the $2,750 psychological barrier. The next target is aligned at the record high of $2,790.
If the correction unfolds, Gold price will find initial demand at the previous day’s low of $2,690, below which the January 15 low of $2,670 will be tested.
Deeper declines will challenge the powerful support area near $2,745, where the 21-day SMA, 50-day SMA, 100-SMA and the triangle convergence meet.
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.
Investing.com — Morgan Stanley (NYSE:) has revised its forecast for U.S. prices in 2025. The bank’s analysts attribute this change to the ongoing LNG expansion cycle and the increasing heating demand due to what is projected to be the coldest January in a decade.
The bank now predicts that prices at Henry Hub will average $4.15 per million British thermal units (mmBtu) this year, a rise from the previous estimate of $3.75/mmBtu.
Additionally, Morgan Stanley has reduced its storage estimate for the end of March from 1.84 trillion cubic feet (Tcf) to 1.55 Tcf. This represents a decrease of about 17% below the 5-year average.
The analysts noted that winter weather has been a beneficial factor so far, but it remains an unpredictable element for the 2025 outlook. If February and March bring milder weather, inventories could remain at around 1.8 Tcf.
However, if the winter withdrawal season concludes with colder-than-normal conditions, stock levels could drop to approximately 1.3 Tcf, they said.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Gold price shows new positive trades to start the attempts to breach 2700.00$ level, reinforcing the expectations of continuing the bullish trend for the rest of the day, reminding you that our next target is located at 2725.00$.
The bullish channel organizes the suggested bullish wave, which will remain valid unless breaking 2672.00$ and holding with a daily close below it.
The expected trading range for today is between 2680.00$ support and 2720.00$ resistance.
Gold rallies as U.S. Treasury yields dip after rising unemployment claims and strong consumer spending.
Retail sales up 0.4% MoM in December, November’s figures revised up to 0.8%.
Expectations for 2025 Fed rate cuts grow, with two reductions anticipated by year-end.
Gold soared after economic data from the United States (US) showed that consumer spending remained solid, while the number of people filing for unemployment benefits rose. This weighed on US Treasury yields and boosted the precious metal, which traded above the $2,700 figure for the first time since December last year.
Gold ascends to new highs, surpassed $2,700 as trades eye further Fed rate cuts
The yellow metal and the Greenback are trending up after Retail Sales for December rose by 0.4% MoM, missing the mark, but an upward revision of November figures to 0.8% showed the economy remains robust. On the negative front, Initial Jobless Claims for the week ending January 11 increased by 217K from 201K in the previous week, missing estimates of 210K.
Even though Retail Sales were solid and the US Treasury yield remained firm, Bullion buyers remained in charge, driving prices higher. Wednesday’s US inflation figures increased the chances that the Federal Reserve (Fed) will further ease policy in 2025.
Market participants are pricing in near-even odds that the Fed would cut rates twice by the end of 2025 and see the first reduction in June.
Recent Fed speaking has shown that officials remained concerned about the upcoming Trump administration’s policies, some of which, like applying tariffs, are inflation-prone.
Ahead this week the economic docket will feature housing data and the release of US Industrial Production data.
XAU/USD Price Forecast: Technical outlook
Gold’s uptrend is set to continue, but buyers will face key resistance at $2,726, the December 12 high. A breach of the latter will expose $2,750 and the record high of $2,790. Conversely, if XAU/USD slips below $2,700, a pullback is seen toward the January 13 swing low of $2,656.
Momentum favors further upside, as the Relative Strength Index (RSI) depicts.
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.
Fresh hopes for a Federal Reserve rate cut in May put pressure on the US Dollar.
China will release Q4 Gross Domestic Product figures early on Friday.
XAU/USD maintains the bullish bias and looks to retest the $2,790 all-time high.
Spot Gold keeps advancing on Thursday, posting fresh highs above the $2,720.00 level in the mid-American session. The market mood soured ahead of the United States (US) opening, as macroeconomic data was tepid while Federal Reserve (Fed) Governor Christopher Waller said that interest rate cuts could come sooner and faster than expected if the disinflation trend holds up. As a result, investors lifted bets for an interest rate cut in May.
Earlier in the day, the United States reported that Retail Sales rose a modest 0.4% in December, below the 0.6% expected and the previously revised 0.8%. At the same time, Initial Jobless Claims for the week ended January 10 increased by 217K, worse than the 210K expected. The US Dollar (USD) lost ground with the news, as Wall Street struggles to post gains.
Market players will now shift the focus to China, as the country will publish early in Asia Q4 Gross Domestic Product (GDP) figures. Additionally, China will release December Industrial Production and Retail Sales.
XAU/USD short-term technical outlook
Technical readings in the daily chart support additional XAU/USD gains. The pair extends gains above its moving averages, with bullish 20 and 100 Simple Moving Averages (SMA) converging at around $2,643, both gaining upward traction. At the same time, technical indicators extended their advances within positive levels, with room to extend their advance in the upcoming sessions.
In the near term, and according to the 4-hour chart, Gold is overbought yet there are no signs of upward exhaustion. The 20 SMA accelerated its advance far below the current level, while the 100 SMA is about to cross above the 200 SMA, both far below the shorter one. Finally, technical indicators have partially lost their positive momentum but keep heading north despite developing at extreme levels. A relevant resistance comes at around $2,725, with gains beyond it exposing the all-time high in the $2,790 region.
Gold rallies as U.S. Treasury yields dip after rising unemployment claims and strong consumer spending.
Retail sales up 0.4% MoM in December, November’s figures revised up to 0.8%.
Expectations for 2025 Fed rate cuts grow, with two reductions anticipated by year-end.
Gold soared after economic data from the United States (US) showed that consumer spending remained solid, while the number of people filing for unemployment benefits rose. This weighed on US Treasury yields and boosted the precious metal, which traded above the $2,700 figure for the first time since December last year.
Gold ascends to new highs, surpassed $2,700 as trades eye further Fed rate cuts
The yellow metal and the Greenback are trending up after Retail Sales for December rose by 0.4% MoM, missing the mark, but an upward revision of November figures to 0.8% showed the economy remains robust. On the negative front, Initial Jobless Claims for the week ending January 11 increased by 217K from 201K in the previous week, missing estimates of 210K.
Even though Retail Sales were solid and the US Treasury yield remained firm, Bullion buyers remained in charge, driving prices higher. Wednesday’s US inflation figures increased the chances that the Federal Reserve (Fed) will further ease policy in 2025.
Market participants are pricing in near-even odds that the Fed would cut rates twice by the end of 2025 and see the first reduction in June.
Recent Fed speaking has shown that officials remained concerned about the upcoming Trump administration’s policies, some of which, like applying tariffs, are inflation-prone.
Ahead this week the economic docket will feature housing data and the release of US Industrial Production data.
XAU/USD Price Forecast: Technical outlook
Gold’s uptrend is set to continue, but buyers will face key resistance at $2,726, the December 12 high. A breach of the latter will expose $2,750 and the record high of $2,790. Conversely, if XAU/USD slips below $2,700, a pullback is seen toward the January 13 swing low of $2,656.
Momentum favors further upside, as the Relative Strength Index (RSI) depicts.
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.
Goldman Sachs’ stock price (GS) rallied in the intraday levels, shaking off negative pressure from the 50-day SMA, amid the dominance of the main upward trend in the medium term, and accompanied by a surge in trading volumes, as the stock tries to tackle the pivotal resistance of $611.90, while managing to vent off overbought saturation in the RSI with positive signals streaming out of it.
Therefore we expect more gains for the price, provided the resistance of $611.90 was breached, targeting the next one at $654.54.
