Daily Global Analysis By zForex

[Z Forex]

Gold Analysis By zForex Research Team - 01.30.2025​

Gold Holds Ground After Fed Decision​

Gold held around $2,760 per ounce on Thursday after a slight decline, as investors reassessed the Fed’s hawkish stance. Policymakers reaffirmed that inflation remains elevated, removing references to progress toward 2%, which weighs on gold by increasing the opportunity cost of holding non-yielding assets.

Dovish moves from other central banks supported the precious metal. The BoC ended quantitative tightening, the Riksbank cut rates, and the ECB is expected to follow. The RBI and PBoC also signaled rate cuts.

Technically, resistance is at 2,790, with further levels at 2,800 and 2,820. Support stands at 2,730, followed by 2,660 and 2,630.