Gold - Overview as of 29.01.2025

Financial and commodity markets analytics


Gold prices found support only approaching the zone described earlier $2700-2720. The market is dominated by wait-and-see sentiment and the price is located in the middle of the local range of $2740-2780, not far from the historical maximum. maximum. All attention of the market participants is focused on the forthcoming meeting of the U.S. Federal Reserve, the decision on the key rate and Regulator's monetary policy steps in the future. Reduction rates and even just hints from the Fed about such steps in the nearest future may provoke selling of dollars. may provoke selling of the US dollar and the renewal of the gold prices to their highs. And vice versa, tough rhetoric and keeping the rate at the same level may provoke sales of the metal. В In any case, until Thursday, in the absence of any force majeure. circumstances, there are no preconditions for significant movements in the gold market. there are no preconditions for significant movements on the gold market.