{"id":145322,"date":"2025-01-08T12:15:01","date_gmt":"2025-01-08T12:15:01","guid":{"rendered":"https:\/\/kinesis.money\/?p=145322"},"modified":"2025-01-08T12:20:27","modified_gmt":"2025-01-08T12:20:27","slug":"gold-tests-recent-highs","status":"publish","type":"post","link":"https:\/\/kinesis.money\/tr\/market-analysis\/gold-news\/gold-tests-recent-highs\/","title":{"rendered":"Gold Price News: Gold Tests Recent Three-Week Highs"},"content":{"rendered":"\n<p>Gold prices nudged higher on Tuesday to test the three-week highs seen on January 3<sup>rd<\/sup>, although prices stayed within their recent range as the markets awaited fresh inputs.<\/p>\n\n\n\n<p>Prices climbed to a high of $2,665 an ounce on Tuesday, testing the January 3<sup>rd<\/sup> high of $2,666 an ounce. However, the market lacked the momentum to push above this level, leaving prices to ease back down to around $2,650 an ounce later in the session.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img width=\"1024\" height=\"363\" src=\"https:\/\/kinesis.money\/wp-content\/uploads\/2025\/01\/image-90-1024x363.png\" alt=\"gold kau usd price on Kinesis pro exchange\" class=\"wp-image-145324\" srcset=\"https:\/\/kinesis.money\/wp-content\/uploads\/2025\/01\/image-90-1024x363.png 1024w, https:\/\/kinesis.money\/wp-content\/uploads\/2025\/01\/image-90-300x106.png 300w, https:\/\/kinesis.money\/wp-content\/uploads\/2025\/01\/image-90-150x53.png 150w, https:\/\/kinesis.money\/wp-content\/uploads\/2025\/01\/image-90-768x272.png 768w, https:\/\/kinesis.money\/wp-content\/uploads\/2025\/01\/image-90.png 1111w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Gold (KAU) price &#8211; $\/g &#8211; on the Kinesis Pro exchange<\/figcaption><\/figure>\n<\/div>\n\n\n<p>US ISM Services PMI data released on Tuesday showed a larger-than-expected increase in business activity in December, while separate figures showed a larger-than-expected rise in job openings in November. The latest bullish economic figures may be seen as decreasing the chances of US interest rate cuts in the coming months \u2013 a bearish factor for gold prices.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-gold-caught-between-opposing-forces\">Gold caught between opposing forces<\/h2>\n\n\n\n<p>Gold has seen range-trading at around $2,585 to $2,660 an ounce since mid-December, showing no convincing momentum to break out in either direction thus far. This reflects a market caught between opposing forces. On the one hand, the incoming Trump administration\u2019s policies in the US may have an inflationary effect, casting doubt over the likelihood of future interest rate cuts by the US Federal Reserve. On the other, precious metals continue to take support from an environment of heightened geopolitical risk and policy uncertainty.<\/p>\n\n\n\n<p>A bullish tone also came from news reports on Tuesday that China\u2019s central bank had added to its gold reserves in December for a second consecutive month, despite the current high prices. The latest purchasing follows a six-month halt to the PBoC\u2019s buying of gold from May to October 2024.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-upcoming-data\">Upcoming data<\/h2>\n\n\n\n<p>Looking ahead, Wednesday will bring Euro Area consumer confidence and economic sentiment figures for December, followed by the US initial jobless claims figures for the week ending January 4<sup>th<\/sup>. Then moving to Thursday, several US Fed officials are scheduled to give speeches which will be closely watched as the markets try to assess the path forward for interest rates in the coming months.<\/p>\n\n\n\t\t\t<section class=\"ktp-block ktp2_0-block\">\n\t\t\t<div class=\"\">\n\t\t\t\t<div class=\"ktp-container\">\n\t\t\t\t\t<div class=\"ktp-grid\">\n\t\t\t\t\t\t<div class=\"col-span-4 md:col-span-8 lg:col-span-10 lg:col-start-2  pb-4\">\n\t\t\t\t\t\t\t<div class=\"p-container body-2xs neutral text-brand-primary-midnight-275 \">\n\t\t\t\t\t\t\t\t<p><em><a href=\"https:\/\/kinesis.money\/author\/frankwatson\/\" rel=\"noopener\">Frank\u2019s experience<\/a> covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em><em>He has worked as a senior editor for S&amp;P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n<p><i data-stringify-type=\"italic\">This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i><br \/>\n<i data-stringify-type=\"italic\"><\/i><\/p>\n<p><i data-stringify-type=\"italic\">Read our Editorial Guidelines\u00a0<\/i><i data-stringify-type=\"italic\"><a class=\"c-link\" href=\"https:\/\/kinesis.money\/editorial-guidelines\/\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/kinesis.money\/editorial-guidelines\/\" data-sk=\"tooltip_parent\">here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"<p>Gold prices nudged higher on Tuesday to test the three-week highs seen on January 3rd, although prices stayed within their recent range as the markets awaited fresh inputs. Prices climbed to a high of $2,665 an ounce on Tuesday, testing the January 3rd high of $2,666 an ounce. However, the market lacked the momentum to [&hellip;]<\/p>\n","protected":false},"author":50,"featured_media":145354,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[215],"tags":[],"class_list":["post-145322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gold Price News: Gold Tests Recent Three-Week Highs - Kinesis<\/title>\n<meta name=\"description\" content=\"Gold prices near three-week highs at $2,665\/oz, testing key resistance levels. 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