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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