XAUUSD approaches record highs
Fundamental Perspective
Gold shipments from Singapore to the US surged 27% MoM in January to 11 tons, marking the highest level since 2022. The rise reflects pricing disparities in global bullion markets, with US futures trading at a premium over London spot prices amid concerns over potential Trump administration tariffs. A similar spike last occurred in 2020 during the pandemic when supply chain disruptions drove demand for physical gold settlements. Gold remains near record highs as geopolitical uncertainties and fresh tariff threats fuel demand.
Technical Perspective
Gold is approaching its record high and the resistance zone at 2940, which coincides with the 100% Fibonacci Extension. The price remains within an ascending channel, with higher swings indicating that the uptrend remains intact. However, with prices nearing their record high, the price could consolidate further within the 2880 - 2940 range.
If XAUUSD extends its rally and closes above 2940, the price could gain upward momentum toward the channel's upper bound near 3000. Conversely, a retreat below 2940 could prompt a retracement toward the channel's lower bound and support at 2880.
Author: Li Xing Gan, CMT, CFTe,
Financial Market Strategist Consultant to Exness
Gold shipments from Singapore to the US surged 27% MoM in January to 11 tons, marking the highest level since 2022. The rise reflects pricing disparities in global bullion markets, with US futures trading at a premium over London spot prices amid concerns over potential Trump administration tariffs. A similar spike last occurred in 2020 during the pandemic when supply chain disruptions drove demand for physical gold settlements. Gold remains near record highs as geopolitical uncertainties and fresh tariff threats fuel demand.
Technical Perspective
Gold is approaching its record high and the resistance zone at 2940, which coincides with the 100% Fibonacci Extension. The price remains within an ascending channel, with higher swings indicating that the uptrend remains intact. However, with prices nearing their record high, the price could consolidate further within the 2880 - 2940 range.
If XAUUSD extends its rally and closes above 2940, the price could gain upward momentum toward the channel's upper bound near 3000. Conversely, a retreat below 2940 could prompt a retracement toward the channel's lower bound and support at 2880.
Author: Li Xing Gan, CMT, CFTe,
Financial Market Strategist Consultant to Exness
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.