Gold --> Bear Market Intensifies, Key Resistance Looms

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Gold prices rose after a false breakout at 2,650. Fundamentally, the situation remains complex, and technically...

The metal's price is being influenced by geopolitical tensions, weaker U.S. bond yields, and a softer USD, which supports the safe-haven appeal of XAU/USD. However, bets on a less dovish Fed warrant caution for bullish markets ahead of this week's FOMC meeting.

Theoretically, additional gold price gains could be limited by concerns about China's economy after its industrial production posted a modest rise in November, while retail sales disappointed. Widening gold discounts in India amid subdued wedding season demand due to higher prices may also act as a drag on the metal. China and India remain the largest gold consumers globally.

Looking ahead, U.S. PMI data also warrants attention for fresh insights into the Fed's rate trajectory next year, which could heavily influence gold prices—given gold's sensitivity to the USD.

From a technical perspective, gold is attempting to break out of a major range, testing critical support. Since the opening of the session, the price has increased quite strongly, which increases the possibility of resistance to stop this increase. If there is a false breakout around the 2,655 level, a minor correction toward resistance could form. However, with prices testing strong support, we may witness a false breakout followed by a corrective move to the 2,660–2,675 region (0.618 Fib retracement) before resuming the downtrend.

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交易开始
GOLD --> Correction Before Potential Further Decline
交易结束:到达目标
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