Time to buy local: war fuel price shocks reveal the folly of a long food supply chain 
US-Iran Ceasefire Talks Underway: What You Need to Know 
The four types of dementia most people don’t know exist 
Meta and Google just lost a landmark social media addiction case. A tech law expert explains the fallout 
Is dark chocolate healthier than milk chocolate? 2 dietitians explain 
How the war in Iran is already affecting UK farmers and food production 
God on their side: how the US, Israel and Iran are all using religion to garner support 
What does China’s host bid mean for the High Seas Treaty? 
Gold prices trade flat ahead of Trump’s inauguration. It hit an high of $2724.80 and currently trading around $2706.
As of January 20, 2025, Donald Trump's aggressive tariff policies to support U.S. manufacturing are severely impacting the economy and the U.S. dollar. His commitment to tariffs is believed to protect American industries by strengthening the dollar as investors would expect better trade conditions. Still, such tariffs may raise prices for consumers and businesses dependent on imported goods. According to studies, the imposition of tariffs can increase intermediate goods by 10% to 30%, thereby increasing overall consumer prices. This inflation might reduce purchasing power and cause a more general problem in the economy. Although the dollar may gain strength, there is a prospect of increased cost and inflation that is causing unease in the economy. This may lead to a tighter money policy by the Federal Reserve that could strengthen the U.S. Dollar. Gold prices, therefore, may receive more pressure hence becoming lower.
Rate Pause Sentiments Climb
According to the CME Fed Watch tool, the chances of a rate pause have increased to 99.50% up from 97.90% a week ago.
Technical Analysis: Key Levels and Trading Strategy
Gold prices are holding above short-term moving averages of 34 EMA and 55 EMA and long-term moving averages (200 EMA) in the 4-hour chart. Immediate support is at $2,670, and a break below this level will drag the yellow metal $2660/$2650/$2,630,$2600/ $2,570, $2,559, $2,536, and eventually $2,500. The near-term resistance is at $2710, with potential price targets at $2725/ $2,750-/$2775. It is good to buy on dips around $2680, with a stop-loss at $2,640 for a target price of $2,775/$2790.
