Created on January 09, 2025

• During mid-week trading, gold futures resumed their gains as investors digested the minutes of the Federal Open Market Committee’s latest policy meeting at the bank’s last meeting in 2024.
• Spot gold prices moved to the resistance level of $2670 per ounce before stabilizing around $2664 per ounce at the time of writing this analysis.

According to gold trading company platforms, the price of gold has increased by 1.5% since the beginning of the new year. Similarly, the price of silver attempted to reach $31 per ounce. According to trades, the price of silver increased by 5% in the first trades of 2025.

US Federal Reserve Signals and Their Impact on Gold

Yesterday, the Federal Reserve released the minutes of the Federal Open Market Committee (FOMC) meeting last month. The meeting summary revealed two things: policymakers are concerned about the trade and immigration policies of President-elect Donald Trump, and officials are concerned about inflation risks. The meeting minutes added: “Almost all participants judged that the upside risks to the inflation outlook had increased.” And “as reasons for this judgment, participants cited stronger-than-expected recent readings on inflation and the potential implications of possible changes in trade and immigration policy.”  

For his part, Trump has vowed to impose global tariffs and large levies on Chinese goods. He has also threatened to impose large tariffs on Canada, Mexico and countries involved in anti-dollar efforts.

At the last meeting of 2024, FOMC members voted to cut the US interest rate by another quarter point to a range of 4.25% and 4.5%. However, they now expect only one more quarter-point cut in the US interest rate this year, down from the initial estimate of four quarter-point cuts.  

In general, investors widely believe the Fed will hit the pause button later this month. Ultimately, according to the December minutes, officials believe it would be wise to take a more cautious approach to normalizing US interest rates. Meanwhile, this would normally be bad news for gold and silver markets, precious metals remained positive as Treasury yields fell. The benchmark 10-year yield fell 1.2 basis points to 4.673%. furthermore, lower yields are good for gold prices because they reduce the opportunity cost of holding non-yielding bullion.

Stronger US Dollar Affects the Pace of Gains

According to forex market trades, the US dollar is still hovering near its two-year high. The US Dollar Index (DXY), which measures the performance of the US currency against a basket of other major currencies, has risen to the resistance level of 109.06, its highest level in two years. As is well known, a stronger US dollar is a negative factor for dollar-denominated commodities as it makes them more expensive for foreign investors to buy.  

Trading Tips:

Always keep gold in your trading portfolio and do not forget that it rose last year by 27 percent, supported by global geopolitical tensions, easing central bank policies, and their strong purchase of gold. These factors still exist.

Will Gold Reach $3000?

In this regard, Goldman Sachs has postponed a target for gold prices to $3000 until mid-2026 after expecting gold to reach that level in the new year 2025. Furthermore, the bank reduced its forecast on the back of expectations of fewer cuts by the US Federal Reserve. Against this backdrop, bullish bets by hedge funds have fallen to their lowest level in six months, according to Commodity Futures Trading Commission data.  

In general, the gold price index may remain in its current environment until the interaction with the US jobs report tomorrow, Friday, which is expected to show a moderate but still healthy US labour market. Moreover, the data is unlikely to change the view that the Federal Reserve will take a more cautious approach to cutting US interest rates in 2025 amid renewed concerns about inflation.

Gold Price Technical Analysis and Expectations Today:

According to the daily chart and the forecasts of gold analysts today, the overall trend leans more towards the upside. Also, the bulls are cautiously approaching the psychological resistance level of $2700 per ounce, which could support further strong positive momentum for gold prices. The Relative Strength Index and the MACD on this period are turning upwards and there are opportunities for further gains before reaching strong overbought levels. Overall, I still prefer buying gold from any downward level. Currently, the closest support levels for gold prices are $2648, $2625, and $2600 per ounce.

Ready to trade today’s Gold prediction? Here’s a list of some of the best XAU/USD brokers to check out.

• Silver price moves higher along nine- and 14-day EMAs, establishing a bullish bias.
• The primary resistance appears at the psychological level of $31.00.
• The pair may test initial support at the psychological level of $30.00, followed by the nine-day EMA at $29.83.

Silver prices (XAG/USD) continue their upward trend, extending the winning streak that began on January 1. The grey metal trades around $30.20 per troy ounce during the European hours on Thursday. A closer look at the daily chart suggests a developing bullish bias, with the XAG/USD pair pushing higher along nine- and 14-day Exponential Moving Averages (EMAs), signaling robust short-term price momentum.

The 14-day Relative Strength Index (RSI) has also climbed above the 50 level, reinforcing the bullish sentiment. A further increase in Silver price could indicate growing bullish momentum. However, the alignment of the nine-day EMA with the 14-day EMA still suggests the absence of a strong directional trend in the short-term price movement.

Silver price may face potential resistance at the psychological level of $31.00. A decisive break above this level could bolster bullish momentum, paving the way for the metal to target the two-month high of $32.28, last reached on December 9.

On the downside, immediate support is likely at the psychological level of $30.00, followed by the nine-day EMA at $29.83. A break below this level could weaken short-term momentum, potentially pushing the XAG/USD pair toward the four-month low of $29.82, recorded on December 19.

XAG/USD: Daily Chart

Coffee price today January 9, 2025

Coffee price world All fell sharply after two increases at the beginning of the week, due to the strengthening of the US dollar and high inventories. The strengthening of the US dollar has put pressure on the prices of most commodities, including coffee.

Domestic coffee prices today decreased, trading in the range of 120.000 – 121.000 VND/kg. In the Central Highlands, in the first days of 2025, unseasonal rains almost disappeared and the weather was sunny. These are ideal weather conditions for people to harvest the new coffee crop.

The US dollar rose for a second straight session on Thursday, as US bond yields continued their recent rally, following reports that US President-elect Donald Trump is considering using measures to push through new tariffs.

Speculators have been cutting their net long positions across the board, a major factor influencing coffee prices. The latest Commitment of Traders report from the New York arabica market saw the non-commercial speculative sector reduce its net long position by 3,97% in the trading week ending December 31, 2024. Meanwhile, the London robusta coffee market saw the managed currency speculative sector reduce its net long position by 6,11% in the same period.

The increase in inventories also contributed to the price decline. Arabica coffee inventories tracked by ICE New York rose to a 2,5 yearly high on the day 6/1 reached 993.562 lot. Robusta coffee inventories tracked by ICE London rose to a 3 monthly high on the day 8/1 reached 4.415 lot.

However, the market was still supported by concerns that dry weather in Brazil last year could reduce this year’s crop, according to data from GovermentBrazil’s coffee exports in December fell 12% year-on-year to 17 million bags. The Brazilian Coffee Exporters Association (Cecafe) said there were still delays in loading cargoes due to limited port capacity.

Vietnam, the world’s largest producer of robusta, also saw its exports decline sharply compared to last year. In 2024, Vietnam’s coffee exports of 1,34 million tons of all kinds are expected to decrease by 17,2% compared to 2023. In December alone, Vietnam’s coffee exports reached 12 tons, down 126.000% compared to the same period last year, according to the General Statistics Office of Vietnam.

Vietnam remains the world’s largest supplier of robusta coffee. Despite a 15% decline in coffee production in 2024 due to drought, average prices rose 57% to a record $4.037 a tonne. Coffee exports last year reached $5,5 billion, up 32% from the previous year.

Coffee prices have increased sharply in recent times, according to a representative of the Vietnam Coffee and Cocoa Association (Vicofa). The reason for this is due to many factors: a serious shortage of supply due to a number of factors such as climate change and drought, which have reduced production, while crop conversion has also contributed to pushing prices up. In addition, global conflicts have put pressure on the supply chain, especially when farmers hold onto their goods waiting for good prices after the harvest.

Notes of World & Vietnam, at the end of the trading session on 8/1, the price of robusta coffee on the ICE Futures Europe London monthly delivery term March 2025 turned down 63 USD, traded at 4.956 USD/ton. The monthly delivery term May 2025 decreased 53 USD, traded at 4.877 USD/ton. Low trading volume.

Arabica coffee prices on the ICE Futures US New York exchange fell sharply, with the monthly delivery term March 2025 down 4,05 cents, trading at 316,45 cents/lb. Meanwhile, the monthly delivery term May 2025 down 4,30 cents, trading at 313,00 cents/lb. Trading volume was high on average.

2025 is forecast to continue to see strong growth in coffee demand, particularly in emerging markets and the premium coffee segment, although factors such as climate change and fluctuations in coffee production could pose challenges for the industry.

Countries such as China, India, and Southeast Asian countries are experiencing an increase in coffee consumption. The changing consumption habits of young people in these countries are driving the demand for coffee, especially ready-to-drink and instant coffee.

Specialty coffee and organic coffee are gradually dominating the market, especially in developed countries such as the US and EU. Specialty coffee and coffee with clear origins and sustainability are increasingly popular.

The ready-to-drink coffee market, including instant coffee and pre-packaged coffees, is growing due to their convenience. Coffee pods are also becoming a trend, especially in Western markets.

Climate change may alter coffee production, affecting prices and quality. However, demand for coffee may remain strong thanks to the development of new farming methods and increased attention to sustainable coffee.

Meanwhile, e-commerce platforms and online coffee delivery services are helping to boost consumer access to coffee products, especially in the post-Covid-19 pandemic era.

Coffee demand will continue to grow at a steady rate of about 1-2% per year, due to the growth of new markets and changes in consumption habits in traditional markets. Forecasting global coffee demand in 2025, experts say that global coffee demand could reach 180 million to 200 million bags (1 bag = 60kg), with some regions such as North America, Europe and Asia still accounting for the majority of consumption demand.

• Silver price receives support from safe-haven flows amid uncertainty surrounding inflation and potential Trump tariffs.
• Industrial demand for Silver is set to exceed 700 million ounces (Moz), marking a significant milestone.
• The upside potential for the non-yielding metal may be capped as long-term US bond yields rise.

Silver price (XAG/USD) continues its upward momentum, rising for the sixth consecutive day to trade near $30.10 per troy ounce, close to three-week highs during Thursday’s Asian session. The precious metal, often considered a safe-haven asset, gains support amid uncertainty surrounding inflation and potential tariffs under President-elect Trump’s administration, as highlighted by the US Federal Reserve (Fed).

In addition, robust growth in 2024 has boosted industrial demand for Silver, which is on track to surpass 700 million ounces (Moz) for the first time. This surge is driven by its critical role in solar technology, electric vehicles (EVs), 5G networks, and consumer electronics, positioning Silver as a vital material for advancing innovation and supporting the transition to clean energy solutions.

Moreover, heightened geopolitical tensions have added to market volatility, prompting investors to turn to precious metals like Silver for stability. According to Reuters, a Russian-guided bomb attack on Wednesday claimed the lives of at least 13 people and injured 63 others in Ukraine’s southeastern city of Zaporizhzhia, further fueling safe-haven demand.

The upside of the non-yielding metal could be limited as long-term US bond yields continue climbing on heavy supply. The 10-year rose to 4.73%, while the 30-year approached 4.96% on Wednesday following the Federal Open Market Committee (FOMC) Minutes from the December meeting.

FOMC Minutes showed that Fed policymakers expressed concern about inflation and the impact that President-elect Donald Trump’s policies could have. Fed officials indicated they would be moving more slowly on rate reductions because of the uncertainty. Fed officials penciled the expected cuts in 2025 to two from four in the previous estimate at September’s meeting.

• Gold price corrects from a monthly high of $2,670 early Thursday amid a US holiday.     
• The US Dollar consolidates gains despite Treasury bond yields pullback and risk aversion.
• Gold price risks deeper correction amid impending Bear Cross and as RSI turns south.

Gold price pulls back from a monthly high of $2,670 set on Wednesday as buyers turn cautious after discouraging China’s inflation data and the hawkish Federal Reserve (Fed) Minutes. All eyes now remain on a bunch of Fed speakers due to speak later amid US holiday-thinned market conditions.

Gold price awaits Fedspeak amid looming downside risks

China’s Consumer Price Index (CPI) inflation slowed to 0.1% annually in December from 0.2% in November, aligning with the market estimates while the Producer Price Index (PPI) fell 2.3% year-on-year (YoY) in December, slower than the 2.5% fall in November and coming in as expected.

Slowing Chinese inflation suggested a weakening domestic demand in the world’s biggest consumer, accentuating the economic concerns despite several stimulus efforts by the authorities. Growing China’s economic worries add to the pullback in the Gold price as the dragon nation is the world’s top Gold consumer.

Further, Gold price bears the brunt of the recent US Dollar (USD) upswing and elevated US Treasury bond yields amid a slew of strong US data, including the JOLTS Job Openings survey, Jobless Claims and ISM Manufacturing and Services PMI, which continues to back the case for fewer interest rate cuts by the Fed this year.

Additionally, the hawkish Minutes of the Fed’s December meeting offset the weak US ADP Employment Change data on Wednesday, allowing Gold sellers to stage a comeback after two straight days of gains. The Minutes showed that Fed policymakers expressed concern about inflation and the impact of US President-elect Donald Trump’s immigration and trade policies, suggesting that they would be moving more slowly on rate cuts.

Looking ahead, Gold traders will closely scrutinize speeches from Richmond Fed President Tom Barkin, Kansas Fed President Jeffery Schmid and Fed Governor Michelle Bowman for fresh insights on the US central bank’s future rate cuts.

However, speculations surrounding incoming US President Trump’s tariff plans will continue to rock Gold markets, with moves likely to be exaggerated by a partial US holiday on account of a national day of mourning for former President Jimmy Carter.

On Wednesday, citing four sources familiar with the matter, CNN News reported that US President-elect Donald Trump is considering declaring a national economic emergency to allow for a new tariff program by using the International Economic Emergency Powers Act, known as “IEEPA. The headline triggered a sharp US Dollar advance, notwithstanding the weaker-than-expected US ADP private payrolls data, which came in at 122K in December, against a 140K print expected.

Gold price technical analysis: Daily chart

The daily chart shows that the 14-day Relative Strength Index (RSI) has turned lower toward the midline, though holding well above it. This suggests that Gold buyers could be facing some exhaustion.

Adding credence to the dwindling recovery momentum, the 21-day Simple Moving Average (SMA) is set to cross the 100-day SMA from above, which, if materialized on a daily closing basis, would validate a Bear Cross.

If the Gold price correction extends, the initial demand area will be seen at the 50-day SMA of $2,644. A sustained move below that level will challenge the confluence of the 21-day SMA and the 100-day SMA at $2,632.

Deeper declines will call for a test of the January 6 low of $2,615, followed by the $2,600 round level.

On the other hand, should Gold buyers jump back on the bids, the $2,665 static resistance must be scaled sustainably.

Further up, the December 13 high at $2,693 and the $2,700 level will be next on buyers’ radars.  

Signs of Weakening

That was the second day since the 20-Day MA was reclaimed on October 29 that there has been a daily close below the 20-Day line. The first was three days ago, which generated a higher swing low (B). In addition, Tuesday’s bearish reversal day generated a lower swing high (C). These are signs of weakening that might lead to something or not.

Support at 3.43 and Resistance at 3.74

Support was successfully tested again today around the trendline and the price area showed support. Thereafter, buyers took back control shortly after the opening on Wednesday. Natural gas is on track to close strong, in the upper third of the day’s price range, at the time of this writing. It continues to trade near the high, which was 3.68. The low for the day is 3.43, a match with Tuesday.

Therefore, 3.43 provides a specific price support level to watch, which is needed to confirm price behavior around the trendline. A drop below 3.43 would follow another decline below the 20-Day MA, which is now at 3.54, and the trendline. This leaves 3.43 as a key short-term price level, as a drop below it may lead to a continuation of the bearish trend with a drop below the recent swing low at (B).

Bullish on Rise Above 3.74

On the upside, a lower swing high was generated yesterday following the day’s high of 3.74. Subsequently, sellers took back control, leading to a bearish reversal day and a weak close near the lows of the day and the trendline. Natural gas remains at risk of further downside unless there is a decisive advance above 3.74. That would trigger a bullish trend continuation signal and eliminate the lower swing high.

For a look at all of today’s economic events, check out our economic calendar.

Gcoffee price world slight increase

Robusta coffee prices on the London floor updated at 15:00 on January 8, 2025 recovered for the second consecutive session from 2 – 19 USD/ton, fluctuating at 35 – 4749 USD/ton. Specifically, the monthly delivery term March 2025 is 5019 USD/ton (up 5019 USD/ton); the monthly delivery term May 2025 is 35 USD/ton (up 4930 USD/ton); the monthly delivery term July 2025 is 30 USD/ton (up 4839 USD/ton) and the monthly delivery term September 2025 is 23 USD/ton (up 4749 USD/ton).

Similarly, the price of Arabica coffee on the New York floor in the early afternoon of January 8, 2025 also increased slightly from 1.80 – 2.05 cents/lb, ranging from 306.10 – 320.50 cents/lb. Specifically, the monthly delivery term March 2025 was 320.50 cents/lb (up 1.90 cents/lb); the monthly delivery term May 2025 was 317.30 cents/lb (up 1.80 cents/lb); the monthly delivery term July 2025 was 312.40 cents/lb (up 2 cents/lb) and the monthly delivery term September 2025 was 306.10 cents/lb (up 2.05 cents/lb).

At the end of the trading session, the price of Brazilian Arabica coffee in the afternoon of January 8, 2025 was updated as follows: Compared to the previous trading session, there was an increase of 0.40 – 4.95 USD/ton, ranging from 377.80 – 402.25 USD/ton. Specifically, the monthly delivery period March 2025 is 402.25 USD/ton (up 0.40 USD/ton); the monthly delivery period May 2025 is 390.00 USD/ton (up 4.95 USD/ton); the monthly delivery period July 2025 is 388.80 USD/ton (up 2.65 USD/ton); the monthly delivery period September 2025 is 377.80 USD/ton (up 3.25 USD/ton).

Domestic coffee prices increased for the third consecutive session.

According to information from Giacaphe.com, at 15:30 p.m. today January 8, 2025, domestic coffee prices increased for the third consecutive session of the week, maintaining an average of 3 VND/kg, an increase of +121.300 VND/kg.

Finished coffee of Seed Coffee Company Limited. Photo: Le Son

The highest coffee purchase price in key regions of the Central Highlands was recorded at 121.500 VND/kg. Specifically, today’s coffee price at Dak Lak at 121.300 VND/kg, up +300 VND/kg; coffee price at Lam Dong has a price of 120.500 VND/kg, an increase of +200 VND/kg; coffee price at Gia Lai has a price of 121.200 VND/kg, an increase of +400 VND/kg and coffee price at Dak Nong Today’s price is 121.500 VND/kg, up +500 VND/kg.

The domestic coffee prices that Giacaphe.com lists every day are calculated based on the prices of two world coffee exchanges combined with continuous surveys from businesses and purchasing agents in key coffee growing areas across the country.

Y5Cafe always tries to stay as close as possible to each region, however there will be days when the listed price does not completely match the local coffee purchase price, but Y5Cafe believes that the listed information is a valuable reference source for farmers and coffee purchasing businesses.

Coffee price prediction tomorrow 9/ 1 / 2025

The coffee market is currently experiencing significant volatility, with many factors affecting prices. According to forecasts, coffee prices may increase sharply in 2025 due to adverse weather conditions affecting production in major producing countries such as Brazil and Vietnam. Specifically, coffee prices may increase by 20-25% in 2025.

In Vietnam, unseasonal rains have affected the coffee harvest and quality, leading to reduced supply and higher prices. Domestic coffee prices have increased sharply, with Robusta prices ranging from VND121.300/kg to VND122.200/kg, depending on the region.

In the world market, the price of Robusta coffee futures for the month of March 2025 on the London floor was recorded to have increased to 5.019 USD/ton last night, while the price of Arabica coffee on the New York floor also recorded a significant increase.

With the current fluctuations, according to experts, the daily coffee price January 9, 2025 will continue to remain high, reflecting the affected supply and increased market demand.

XAU/USD Current price: $2,666.56

• Headlines related to US President-elect Donald Trump’s tariffs shook financial boards.
• Mixed United States employment-related data had no impact on the US Dollar.
• XAU/USD extends its weekly gains, aims for higher highs in the near term.

Spot Gold trades marginally higher on Wednesday, as dominant risk-aversion keeps safe-haven assets evenly demanded, preventing XAU/USD from running far yet keeping it afloat. The bright metal added a few bucks during American hours and trades at around $2,660, as once again, headlines related to President-elect Donald Trump’s tariffs plans shook financial markets.

According to CNN, Trump is considering “declaring a national economic emergency to provide legal justification for a large swath of universal tariffs on allies and adversaries, four sources familiar with the matter.” The International Economic Emergency Powers Act (IEEPA) will unilaterally authorize the president to manage imports during a national emergency.

The news weighed on the market’s mood and boosted demand for the US Dollar (USD), although the Greenback pared gains ahead of the release of the Federal Open Market Committee (FOMC) Meeting Minutes. The document is expected to shed light on policymakers’ thoughts behind the latest 25 basis points (bps) interest rate cut and shed light on what is next on the monetary policy front.

Meanwhile, the US  released the December ADP Employment Report showing that the private sector added 122K new jobs in the month, missing expectations of 140K. Additionally, Initial Jobless Claims for the week ended January 3 increased by 201K, better than the 218K expected and below the previous 211K. Mixed employment figures had no impact on financial markets. Speculative interest

XAU/USD short-term technical outlook

The daily chart for XAU/USD shows it holds on to gains near a fresh multi-week high of $2,667.67, while the risk skews to the upside. The bright metal gains upward traction, but additional gains are still unclear. Technical indicators crossed their midlines with encouraging slopes but remain within neutral levels. At the same time, the 20 Simple Moving Average (SMA) remains directionless, providing dynamic support at around 2,640. The longer moving averages, in the meantime, keep advancing below the shorter one.

In the near term, and according to the 4-hour chart, XAU/USD is poised to extend its advance. The pair currently develops above all its moving averages, although a flat 20 SMA converges with a directionless 200 SMA at $2,645.46. The 100 SMA, in the meantime, is also flat yet at $2,633.70. Finally, technical indicators maintain their upward slopes well above their midlines, in line with additional gains ahead.

Support levels: 2,626.30 2,614.45 2,596.00

Resistance levels: 2,649.50 2,665.10 2,678.85  

Weather Forecasts Remain Mixed

Conflicting weather data continues to inject uncertainty into price action, according to NatGasWeather. The American model added two heating degree days (HDD) earlier in the week, suggesting stronger demand, while the European model shaved off eight HDDs, hinting at milder conditions. Although both models anticipate cold temperatures over the next two weeks, the discrepancy in severity could weigh heavily on market sentiment. Any alignment between models favoring colder conditions would likely fuel upward momentum.

Cold Snap Drives Record Demand

Demand remains elevated as bitter cold grips the interior U.S., pushing temperatures into negative territory in northern states and keeping Southern regions chilly overnight. Daytime highs struggle to reach freezing across much of the Midwest and Northeast, reinforcing the need for heating. This pattern is forecasted to hold through January 18 before a brief moderation, with another cold front potentially extending demand strength into late January. The West Coast, by contrast, continues to experience milder weather.

EIA Report to Set the Tone

Market participants are closely monitoring the upcoming EIA storage report, which will be released early due to a government holiday. Current projections point to a 39 Bcf withdrawal, reflecting ongoing winter demand but less severe than last week’s 116 Bcf draw. Storage levels, now at 3,413 Bcf, remain 67 Bcf below last year’s figures but 154 Bcf above the five-year average. A larger-than-expected draw could tighten the market further, lending support to prices. Conversely, a lighter withdrawal may reinforce the view that supply remains sufficient.

Resistance at $3.766 Keeps Bulls in Check

Created on January 08, 2025

• Since the start of trading this week, gold prices have been trying to rebound upwards with gains extending to the resistance level of $2665 per ounce.
• Obviously, that’s before the gold price index gains stalled amid a recovery in the US dollar and stabilized around $2650 per ounce at the time of writing this analysis.
• This comes in anticipation of important US events and data, led by the announcement today of the minutes of the latest US Federal Reserve meeting, followed by the announcement of important US jobs figures at the end of the week.

Reasons for the recent rise in the price of gold

According to gold trading company platforms, spot gold prices have found positive momentum amid uncertainty about US tariff policy ahead of Trump’s inauguration. In addition, the People’s Bank of China added gold to its reserves for the second consecutive month, according to official data. Now, gold traders are awaiting further US jobs data, including the non-farm payrolls report, as well as the latest minutes of the Federal Open Market Committee (FOMC) for additional policy guidance. Overall, the strength of the US dollar has had a greater impact on gold price performance, as low interest rates typically benefit the non-yielding metal.

US Dollar Price Returns to Two-Year High

According to Forex trading, the US dollar price has returned around its highest level in two years after it received strong support from the announcement of an increase in US job opportunities, highlighting the flexibility in the Labor market. In addition, the latest data from the Institute for Supply Management showed an acceleration in activity and a rise in prices, which fuelled concerns about ongoing inflation and reduced expectations of a significant reduction in US interest rates by the US Federal Reserve in the coming months.

According to economic calendar data, US services sector growth accelerated in December, boosting business activity and pushing prices to their highest levels since early 2023. Also, US job openings rose by 259,000 to 8.098 million in November, exceeding expectations and reaching a six-month high. Concurrently, Investors are focused on the monthly US jobs report on Friday, one of the last major data releases before the Federal Reserve’s next monetary policy decision.  

Currently, financial markets are pricing in less than 50 basis points of total easing this year.

US Treasury yields hover around 8-month high

Meanwhile, another factor affecting the gold market is the rise in US Treasury yields. The yield on the 10-year US Treasury bond remained at around 4.69% on Wednesday, steady at an eight-month high as strong US economic data reduced expectations for further US interest rate cuts by the Federal Reserve.  

With Trump’s inauguration approaching, options are pointing to the possibility of the US 10-year Treasury yield rising to 5% – a level not seen since October 2023. Furthermore, speculation that Trump’s policies will spur rapid inflation and high deficits as the US economy advances has sent the yield on the 10-year Treasury note up by about half a percentage point over the past month to nearly 4.7%. moreover, the wave of corporate bond issuance and $119 billion from US debt auctions this week – with more government borrowing expected in the coming weeks – added to the upward pressure.

Trading Tips

Dear follower, we know very well that no matter what the dollar price is, global geopolitical tensions. Also, central bank purchases will remain important factors supporting gold gains.

Gold Price Technical Analysis and Expectations Today:

Dear reader, according to the daily chart and the forecasts of gold analysts today, the gold price is stabilizing in a neutral position and the trend will be bullish if the bulls move prices towards the resistance levels of $2665 and $2685, respectively. Thus, in turn will push spot gold prices towards the psychological peak of $270, which will support the strength of the bulls’ control over the trend and signal a new significant upward movement. The directions of technical indicators, led by the Relative Strength Index and the MACD, are still neutral so far.

Conversely, and over the same time frame, breaking the support levels of $2628, $2615, and $2585 will be important for the bears’ control over the trend. at the same time, that will encourage gold investors to consider buying gold again.

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