Yesterday, gold prices remained stable as major markets in Asia and Europe were closed. However, after the holiday, U.S. interest rates dropped in the New York market. This was due to strong bond purchases during the 7-year bond auction, which pushed interest rates lower. Gold rose to around 2,640, breaking above this week’s high of 2,633.
Many market participants are already on holiday until the end of the year, resulting in thin trading. In such conditions, gold is likely to move sideways without a clear direction after the current buying ends.
Gold-Dollar Expected Range: 2,650 – 2,630
Note: The above content is not a guarantee of profit. Please make your own decisions when trading.