Gold price RACAP January 20-24

Happy Friday, traders. Welcome to our weekly market wrap-up, where we take a look back at market news, economic data, and other key trading, economic days that have the most impact on key assets. In the future.

Gold prices have opened strongly this week, setting up Friday’s trade for an all-time high so far today.

In the most mountainous macroeconomic calendars, in the ongoing data-related activity, hold on to beauty and pre-trading trends. Usually such a week (especially when it ends on Monday) is a relatively flat price for gold. However, since it is the first week of the new US administration in Washington, there is a lot of news from the market, which translates to a flow of bids that bring the spot price of the yellow metal close to a new high.

After Martin Luther King Jr. closed on Tuesday, he saved the gold from sunrise joke with levels, immediately on Wednesday morning up to 2760 / OZ, until the end of 24 hours, it is constantly advancing to $ 60 / OZ. Mid-week trading saw gold mostly bearish around this level and cooperating trades. After that, the precious metal started to accelerate again. On Friday, we will see $2780/OZ at $2780/OZ.

The main driver of gold trading this week, the main driver of gold trading this week, the main driver of gold trading this week, is the promise of new administration tariffs. He was raped. This is of course on Monday and Tuesday, then Thursday afternoon, again Thursday afternoon, selling names and corresponding to the most powerful mola with gold.

During the first months of 2025, a more robust macroeconomic report will arise in a surprising schedule similar to the one held in Washington, the first FAMC meeting and the interest rate decision, but the updated CACT inflation data and the first US GDP growth for We will see Q4 2024.

In the meantime, traders, I hope you can go out and enjoy the weekend safely for the next two days. After that, next week I will look at another market Rekai.