Gold (XAUUSD) rises again: new highs are likely

Gold (XAUUSD) prices rose to 2,822 USD, with global demand for safe-haven assets increasing. Find out more in our analysis for 4 February 2025.

XAUUSD forecast: key trading points

• Gold prices are rising and may reach a new high
• Gold quotes are supported by the likelihood of rising inflation after the US imposed high tariffs on partners’ goods
• XAUUSD forecast for 4 February 2025: 2,830 and 2,845

Fundamental analysis

Gold (XAUUSD) prices stand at around 2,822 USD. The precious metal underwent a correction at the beginning of the week. However, demand for safe-haven assets revived due to the complicated external environment.

Uncertainty in global trade stimulates interest in Gold. This is due to possible implications of the US tariff policy. US President Donald Trump earlier announced high import tariffs on goods from Canada and Mexico but just the day before he decided to put the issue on hold for another month. Tariffs of 10% are expected for China, with effect from today.

There are concerns about tariffs not only because they will complicate business and political relations but also due to considerably higher inflationary pressures. This can increase the investment appeal of Gold as a risk-hedging instrument.

The Gold (XAUUSD) forecast appears positive.

XAUUSD technical analysis

On the H4 chart, XAUUSD quotes are highly likely to rise to 2,830 USD. A breakout above this level will pave the way to the 2,845 and 2,865 USD levels.

If the market sentiment changes, a correction could push prices to a significant support level at 2,764 USD, which may restrain selling pressures.

Summary

Gold (XAUUSD) prices are rising, with the rally likely to continue. The forecast for today, 4 February 2025, suggests further growth to 2,830 USD.