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A slight rise in gold amid market anticipation

Technical Analysis
By Mostafa Mahmoud
A slight rise in gold amid market anticipation
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GOLD

الذهب 29-1-2025

Gold is trading above the support zone of $2,745 and is likely to rebound upwards to retest the resistance level of $2,790. This scenario would be invalidated if the aforementioned support level is broken to the downside.

Support

 2745 2720 2720
Resistance 2790 –

–

Gold prices have witnessed a significant rise in both local and global markets. This increase is attributed to investors’ anticipation of the U.S. Federal Reserve’s decision on interest rates, with some expecting a rate freeze, which supports gold’s appeal as a safe-haven asset. From a technical perspective, gold has broken through previous resistance levels, indicating a bullish momentum that may continue in the coming period, especially amid ongoing global economic tensions.

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Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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