Gold prices on January 17th are currently in a short-term uptrend after breaking through the nearby support zone of $2,698 - $2,700 (marked by the gray box). This price range could be considered a potential entry point if the price retraces and retests this level.

Based on the current price structure, this is a trend-following trading strategy. However, it is essential to monitor external factors such as economic data and market fluctuations to adjust the position if necessary.

Gold Market Overview as of January 17th

Jan 17 2025