Market Analysis for Today

Gold prices continued to rise this week, with gains exceeding 1.20%, and the upward momentum extended into Wednesday. Comments made by the new U.S. President, Donald Trump, regarding tariffs fueled the bullish sentiment. 

Meanwhile, investors remain focused on the impact of the Trump administration's tariff and tax-cut policies, which could erode national finances and lead to an inflationary boom. This could limit the Federal Reserve's ability to continue easing monetary policy. In terms of the correlation between the two assets, higher borrowing costs typically weigh on gold.

Gold opened at 2752 and, as of press time, has risen to a high of near 2756 and fallen to a low of near 2751. Resistance levels to watch are 2770-2780-2790. If these levels are not breached, the price may test support at 2740-2730-2720.