Core Viewpoint - The recent geopolitical risks and expectations of two interest rate cuts by the Federal Reserve are providing significant support for gold prices, with key support levels identified at $4,580 and $4,550, and resistance at $4,600 and the historical high of $4,642 [1][4]. Price Movement - On January 20, gold opened higher, surpassing the $4,600 mark and quickly breaking the historical high of $4,642, reaching a new high of $4,690 before stabilizing around $4,652, indicating a strong upward trend [1][4]. - The overall trend remains bullish, with the $4,700 level being tested, aligning with previous bullish expectations [1][4]. Geopolitical Factors - The ongoing geopolitical tensions, particularly the U.S. strategy regarding Greenland and the imposition of new tariffs on several European countries, are contributing to increased demand for gold, thus supporting its price [2][5]. - If the tariffs are implemented as scheduled on February 1, or if their scope is expanded, this could further elevate gold prices [2][5]. Technical Analysis - Key support levels for gold are identified at $4,652 and $4,618, while resistance is noted at $4,690 and the upper Bollinger Band around $4,730 [3][6]. - Technical indicators such as the 5-day moving average, MACD, and KDJ show bullish signals, suggesting potential for further price increases [3][6].
黄力晨:不给格陵兰岛就加关税 地缘风险继续推高金价
Xin Lang Cai Jing·2026-01-20 08:41