Happy Friday, merchants. Welcome to our weekly wrapping on the market, where we look back at these last five trade days with focus on market news, economic data and titles that have most influenced the prices of gold and other key correlated property – and can continue until that in the future.
The prices of gold were constantly increasing this week, and it seemed that on Friday on Friday, they would close to all the highest maximums.
With a very rare macroeconomic calendar, reporting a title on and around the financial markets this week has taken over a command of gold trends instead of a data guided by data. A week like this (especially when it is shortened for Monday empty) results in relatively straight gold prices. Since this is the first week of the new American administration in Washington, however, the market has been a lot of news that could be traded, which has been translated to the constant flow of offers that push the video of the yellow metal near new highlights.
After US markets were closed in respect of Martin Luther King Jr’s Day, Gold went out of the hot door on Tuesday, he immediately climbed the first 24 hours of trading while on Wednesday morning he ticks close to 2760 USD/Oz – profit approximately of approximately $ 60/Oz. In the middle of the week, the gold trading saw gold, mostly tearing her side around this level and consolidating gain. Then, late Thursday, the precious metal began to accelerate more again. On Friday, we see a video of prices that trade in a neighborhood of $ 2780/Oz, at a touch distance from all time maximums.
Although they are safe to be on the title of title and declaration with the various effects that should be taken into account in the coming weeks, the main trigger for gold trading this week was an indication of a new administration that he would fulfill the promises of a new, aggressive tariff policy on which the campaign is the campaign . This was certainly a key part of messaging on Monday and Tuesday, and then again on Thursday afternoon, stimulating a steep sale of USD and appropriate to the strongest gatherings in gold.
We expect that Washington news will play a similar role next week, but impact on the market or will be alleviated or increased by a stronger macroeconomic reporting schedule, as we will close the first month of 2025. The primary one of them will be the first decision on the FOMC meeting and interest, but we will also see updated information on PCE inflation inflation of the first growth accounting of US GDP for Q4 2024.
In the meantime, traders, I hope you can go out and enjoy the weekend for the next few days. After that, see you here next week on another market abstract.
