XAUUSD will have a sharp decline in the last days of the year

26 дек. 2023 г.

This morning, GOLD saw a slight gap widening, but then quickly moved back up to 2059 territory. This rate could rise again by a factor of 206.
The price range is on the strong buy side, so you shouldn't rush to sell right away. As expected, there will be a lot of news this week and the rest of the year. It's very easy to get hit by a sharp decline. If the current gold price and trends are like this,

Buy at 2054>2056
SL2052
TP 2064>207x.
Sell ​​today, everyone is waiting for the range 2068>2070
SL2072
TP 2062>205x.

Current prices are rising. Don't rush to sell the entire boat right away.
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The gold market is gearing up for a significant price increase towards the end of 2023. The US Federal Reserve has indicated that it may cut interest rates three times by 2024. When the Fed lowers interest rates, the US dollar depreciates, supporting gold prices.
David Meagher, head of metals trading at commodity trading firm Highridge, said the Fed acknowledged that inflation pressures remain subdued, raising expectations for rate cuts and pushing bond yields and the U.S. dollar lower. This strength led to an increase in gold prices. "We believe the current upward trend in gold is a sustained rally," he said.
MarketWatch said gold prices were also supported by central banks' gold purchasing needs and increased demand for physical gold in Asia at the end of the year.
gold price prediction

Experts believe that gold prices may rise in the short term. Colin Szycinski, a strategist at SIA Wealth Management, said gold prices are expected to continue rising in the short term and investors should take the current price movements as a positive signal.
Blue Line futures strategist Philip Strible said gold prices continue to be supported by a weaker US dollar. The latest technological advances could push gold prices up to $2,100 per ounce.