Gold price recovered at the beginning of the week around 2675

3天前

XAU / USD trend forecast December 16, 2024

Gold price (XAU/USD) remains steady near $2,650 during Monday’s early Asian trading hours. Strong central bank purchases and persistent geopolitical tensions in the Middle East are expected to provide support to the yellow metal in the short term. Traders now turn their attention to the US December Purchasing Managers Index (PMI) for additional direction, set to be released later in the day.

Consistent demand from central banks continues to bolster gold prices. For nearly 15 years, central banks have been net buyers of gold, highlighting its role as a reliable reserve asset and a safeguard during crises. According to the World Gold Council, gold prices are projected to see modest gains by 2025, driven by central bank activity, geopolitical uncertainties, and economic trends in major markets like the US, China, and India.

H4 frame gold price reacted to touch trendline, short recovery, Monday is still a recovery waiting for price zone 2675

/// SELL XAU : zone 2674-2677

SL: 2682

TP: 50 - 150 - 300pips (2647)


Safe and profitable trading

前天

交易开始

Gold price recovered above the 2660 range, waiting for a retest of the 2675 price range.

前天

交易结束：到达目标

Gold price recovered to 2664 then decreased sideways below 2660