GOLD → A chance for growth or a trap?

2024年12月26日

XAUUSD continues to give hope to the bulls, trading inside a local rising channel resembling a flag on the background of a local bearish trend.



Further upside for the gold price may remain limited as the US dollar remains underpinned by the Fed's hawkishness.
This begs the question: what will happen to rates? Hold or rise?
It is worth understanding that the rise in inflation expectations against the backdrop of Trump's protectionist policy requires an increase in interest rates.
In addition, statistically, the dollar enjoys interest towards the end of the year, and because of the Christmas holidays
Technically, I am still skeptical about a possible strong growth, as the fundamental background is weak. Technically, the price may bounce from any nearby strong level.

Resistance levels: 2633, 2650
Support levels: sma, 2606

We may not expect strong moves at the end of the year, the market is already celebrating the end of 2024. But the probability is there. Emphasis on the nearest strong levels from which the fall may resume

Regards R. Linda!
Happy Holidays to all and a productive new year 2025!