Gold Steadies at$2700 Amid Trump Inauguration &Geopolitical Calm

XAU/USD: Gold Prices Steady Near $2,700 – Outlook in a Trumpian Era

• Gold prices go easy
  Gold prices (XAU/USD) remained steady on Monday morning, fluctuating around $2,700 per ounce as Donald Trump prepared to step onto the podium. With the U.S. observing a holiday (markets are closed) in honor of Martin Luther King Jr., global attention shifts to Trump’s inauguration as the 47th President of the United States.
  
  
• Trump’s Market-Moving Speech Ahead
  Although the specifics of Trump’s speech remain uncertain, analysts speculate that tariffs and tax cuts may emerge as core topics. A softer stance on these points could ease concerns about inflation and reinforce a bullish outlook for gold. Conversely, a more aggressive approach, such as imposing 20% tariffs on imports, might heighten inflation fears and potentially weigh on gold prices.
  
  Trump’s inauguration speech is expected to impact gold prices significantly, as it sets the tone for his administration’s economic policies.
  
  
• Geopolitical Developments: Ceasefire in Gaza
  On a separate note, geopolitical tensions eased on Sunday following confirmation of a ceasefire between Israel and Gaza. The agreement was solidified with Hamas releasing three hostages after some delays, in exchange for Israel freeing 90 prisoners. While gold is traditionally viewed as a safe haven during geopolitical uncertainty, the de-escalation in the Middle East reduced immediate demand for the precious metal.
  
  Gold Technical Analysis
  Gold prices are currently consolidating between $2,706 and $2,722 per ounce. The bearish momentum suggests a potential stabilization within the bearish zone, contingent on key levels being breached.
  
  - Bearish Scenario: If prices stabilize below $2,712 and $2,706, further declines to $2,689 and $2,678 are likely, especially if a 4-hour candle closes below $2,706.
  - Bullish Scenario: To confirm a bullish trend, prices would need to break above $2,722, potentially targeting $2,739.
  
  Key Levels
  Pivot Point: 2712
  Resistance Points: 2722, 2739, 2756
  Support Points: 2689, 2678, 2665
  
  Trend Outlook
  Bullish Trend: Above 2722
  Bearish Trend: Below 2706