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In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the GOLD for FEB 4, 2025.
Fundamental Analysis of GOLD
GOLD Key Takeaways
Risk aversion drives gold prices: US President Trump previously threatened tariffs on Mexico and Canada, and then decided to delay, which increased uncertainty and drove safe-haven demand.
Tariffs drive gold prices: If tariffs are further expanded, it only means that the price of gold in the United States will be more expensive than before.
Technical Analysis of GOLD Daily and Hourly Charts
GOLD Daily Chart Insights
(GOLD Daily Price Chart, Source: Ultima Markets MT4)
(GOLD Daily Price Chart, Source: Ultima Markets MT4)
Stochastic oscillator: The indicator sent a bullish signal again after leaving the overbought area, suggesting that short-term bullish forces have the upper hand again. But it is worth noting that the current indicator slope is slower than before, and the long and short are still in the game stage. Be alert to the appearance of a top divergence pattern.
Price Action: Yesterday, gold fell back to the opening price of the order block near 2771.69, but eventually closed higher. The huge fluctuations suggest that the long and short forces are in a game, and the short-term bulls are more dominant. It is worth paying attention to the long opportunities during the Asian session.
GOLD 1-hour Chart Analysis
(GOLD H1 Price Chart, Source: Ultima Markets MT4)
(GOLD H1 Price Chart, Source: Ultima Markets MT4)
Stochastic oscillator: The indicator slowed down its upward momentum during the US session yesterday and fell after sending a short signal. There are signs of upward movement again during the Asian session, but based on the slightly shorter adjustment time period, it is preferred to judge that the current rise is a rebound.
Trend direction: Based on the judgment of the rebound during the Asian session, 2823 is the key resistance price during the day, and there is a probability that the gold price will be blocked and adjusted. If it starts to fall, the first target below is the purple 13-period moving average, and it is worth paying attention to the opportunity to enter the market and go long.
Pivot Indicator Insights for GOLD
(GOLD M30 Price Chart, Source: Ultima Markets APP)
(GOLD M30 Price Chart, Source: Ultima Markets APP)
According to Pivot Indicator in Ultima Markets APP, the central price of the day is established at 2802,
Bullish Scenario: Bullish sentiment prevails above 2802, first target 2831, second target 2845;
Bearish Outlook: In a bearish scenario below 2802, first target 2790, second target 2771.
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