Gold price rises as two key factors drive demand

17 January 2025

Drivers of Gold's upward momentum

Additionally, Gold's status as a safe-haven asset is drawing increased demand. This is partially driven by concerns over potential strict trade tariffs that may be introduced by the new US administration, heightening economic uncertainty.

Technical analysis of XAU/USD

Conclusion

Gold's continued rise is underpinned by expectations of Federal Reserve rate cuts and its appeal as a protective asset amid potential trade policy uncertainties. While technical indicators suggest the possibility of a near-term correction, the broader outlook remains bullish, with key levels such as 2,730 USD in sight. Economic developments, particularly confirmation of dovish shifts in US monetary policy or escalating trade concerns, will be critical in shaping the price trajectory.

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Thin liquidity and month-end could keep the dollar under pressure

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