Golds Next Leg

Golds recent move higher above key resistance levels indicate higher prices ahead

New High For Gold

Gold prices rose 1% on Thursday, near the record high levels of October. Sparked by safe-haven demand due to U.S. tariff threats, while the focus was also on a crucial inflation report for clues on the Federal Reserve's policy path.

Spot gold was up 1% at $2,783.95 per ounce, just $6.20 shy of a record high of $2790.15 hit in October. U.S. gold futures climbed 1.4% to $2,808.

Spot Gold Price Chart

A Break Out Above $2825 would signal a new leg higher

From a technical analysis point of view a close above $2825 would indicate that a new move higher is likely.

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Congratulations Treasury Secretary Scott Bessent, a proud moment for the Palmetto State

Scott Bessent, hailing from South Carolina, takes on the role of the 79th Secretary of the Treasury, with a focus on economic growth and prosperity, beginning January 28, 2025.

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