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If this level is broken, the technical outlook for Gold prices will "change drastically"! Renowned Institutions' analysis of Gold intraday Trade.
On Thursday, in the late Asian market, spot Gold maintained a moderate decline during the day, with the price currently around $2751 per ounce. According to Economies.com, after a significant rise, Gold has lost its momentum for a rebound, and the technical outlook has turned bearish. However, if it breaks above $2755.00 per ounce, the price of Gold is expected to return to a Call trend.
Validate the determination of Gold bulls: Goldman Sachs traders discuss the resilience of Gold.
Despite the strengthening of the US dollar and real interest rates at the beginning of January, the Bid for Gold Futures continues to accelerate.
Gold Prices Edge Closer to New Record on Safe-haven Flows
Hong Kong stocks Concept tracking | International gold prices hit new highs! The prices of solid gold jewelry are rising as well. Institutions: There is still room for growth in the medium to long term (with related stocks attached).
The relevant analysis indicates that the main reasons for the rise in Gold include the decrease in USA CPI data, the increase in M2 MMF supply, the uncertainty of Trump's policies, expectations for interest rate cuts by the Federal Reserve, technical support, and Global economic uncertainty.
GLD ETF Gains 0.5%
SPDR Gold ETF Options Spot-On: On January 22nd, 132.25K Contracts Were Traded, With 2.23 Million Open Interest
On January 22nd ET, $SPDR Gold ETF(GLD.US)$ had active options trading, with a total trading volume of 132.25K options for the day, of which put options accounted for 51.72% of the total transactions,