Yesterday, following last week’s trend, U.S. long-term interest rates rose in the New York market, which led to selling pressure on gold.
As a result, the price around 2650, which corresponds to the neckline and the middle line of the Bollinger Bands, is seen as a ceiling. Gold is becoming more sensitive to negative factors due to this.
Today is Christmas Eve, and the number of market participants is decreasing. Starting tomorrow, the Christmas holidays will officially begin, and market activity is expected to be quiet. However, due to low trading volumes, sudden news such as geopolitical risks could cause unexpected price movements. It is advisable to keep your positions light.
This week’s gold-dollar price range forecast: 2630–2600
Note: The information above does not guarantee profits. Make your own decisions when trading.