XAU / USD trend forecast January 16, 2025
Gold extended its gains for the second consecutive day as US yields dropped sharply following data pointing to cooling core inflation. This fueled expectations that the Federal Reserve (Fed) might ease its policy amid signs of disinflation. Currently, XAU/USD is trading at $2,690.
The precious metal resumed its upward trajectory after the US Bureau of Labor Statistics (BLS) reported a decline in underlying consumer inflation, coming in below both forecasts and the previous month’s figures. The softer inflation data triggered a slide in US yields, increasing the likelihood that the Fed may consider interest rate cuts after the December meeting.
Gold price has returned to the 2700 zone, strong buying power can pull gold price to continue to increase
/// SELL XAU : zone 2717-2720
SL: 2725
TP: 50 – 150 – 300pips (2690)
Safe and profitable trading
Gold Spot / U.S. Dollar
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