Weekly Market Research: Gold Drops, Tesla Rallies, Bitcoin Hits New High

Gold

  1. Gold price fell 1.8% for the week, pressured by a stronger dollar and market reaction to Donald Trump's election victory.
  2. Although the Fed cut rates slightly, speculation about slower cuts under Trump’s policies, along with weakened physical demand in India, contributed to gold's decline.

XAUUSD (H4). Despite election-related pressure, gold still has the strength to reach its supply zone. However, the trend has shifted from a retracement to a full reversal.
 

Tesla

  1. Tesla shares surged 8% Friday, pushing its market cap past $1 trillion, driven by investor optimism about Trump’s presidential win and anticipated benefits from relaxed regulations.
  2. Analyst Dan Ives noted that Tesla could gain a competitive edge without EV subsidies and with potential tariffs limiting cheaper Chinese EV imports to the US.

  1. TSLA (Daily). Due to the election impact, the stock has made a significant gap up. We see potential pullback to test the 270.00 level, where former resistance could act as support.
     

Bitcoin

  1. Bitcoin hit $80,000 for the first time, as investors continued to digest the implications of a second term for President-elect Donald Trump
  2. Analysts suggest Bitcoin could reach $100,000 by early 2025 due to Trump’s pro-crypto stance and expected regulatory changes.

BTCUSD (Daily). During the election, Bitcoin surged by $5,000 and now is hitting another all-time high. The bullish momentum is strong, with potential buying opportunities on market dips.


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Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. ...

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