Trading strategy for the last Friday of the year
Global Gold Prices Rise on Safe-Haven Demand
Gold prices rose on Thursday (December 26), buoyed by safe-haven demand amidst low trading volumes following the Christmas holiday. Investors awaited signals regarding the economic policies under the incoming Donald Trump administration and the Federal Reserve's interest rate strategy for 2025. At the close of trading on December 26, spot gold advanced by 0.8% to $2,634.39 per ounce.
Daniel Pavilonis, Senior Market Strategist at RJO Futures, stated, “Part of gold’s rally is related to developments in Ukraine as Russia targets Ukraine’s power grid.”
U.S. President Joe Biden urged the Department of Defense to continue ramping up arms supplies to Ukraine after condemning Russia's Christmas Day attacks on several Ukrainian cities and energy infrastructure.
Gold is often viewed as a hedge against geopolitical instability and inflation. However, higher interest rates reduce the appeal of this non-yielding asset.
The coming year is expected to be highly volatile for gold. The first half may see positive momentum driven by escalating geopolitical tensions, while the second half could witness profit-taking activities. As Donald Trump prepares to return to the White House in January 2025, markets will closely monitor U.S. economic data to assess how the Federal Reserve manages inflationary pressures arising from the Trump administration’s policies.
Following the Christmas holiday, this week has been devoid of significant economic data, at least until the next. As a result, gold is likely to trade sideways today, leaning towards an upward trend based on the latest developments mentioned above. The suggested strategy is to look for buying opportunities with targets at $2,630–32, $2,635–37, and $2,640–42, or slightly higher if momentum allows. However, selling opportunities could arise after potential pullbacks, with targets around 5 - 10 Price
Sell Zone: $2,648–50
Stop Loss (SL): $2,655
Take Profit (TP): $2,642–39–34
Buy Zone: $2,609–07
Stop Loss (SL): $2,602
Take Profit (TP): $2,615–20–28
Key Considerations:
Given that today is a Friday, liquidity may remain low, and markets could see sudden price spikes triggered by thin trading volumes. Exercise caution in your trades, especially as many remain in holiday mode. Stay safe with your accounts, and trade prudently!
GOOD LUCK!
Gold prices rose on Thursday (December 26), buoyed by safe-haven demand amidst low trading volumes following the Christmas holiday. Investors awaited signals regarding the economic policies under the incoming Donald Trump administration and the Federal Reserve's interest rate strategy for 2025. At the close of trading on December 26, spot gold advanced by 0.8% to $2,634.39 per ounce.
Daniel Pavilonis, Senior Market Strategist at RJO Futures, stated, “Part of gold’s rally is related to developments in Ukraine as Russia targets Ukraine’s power grid.”
U.S. President Joe Biden urged the Department of Defense to continue ramping up arms supplies to Ukraine after condemning Russia's Christmas Day attacks on several Ukrainian cities and energy infrastructure.
Gold is often viewed as a hedge against geopolitical instability and inflation. However, higher interest rates reduce the appeal of this non-yielding asset.
The coming year is expected to be highly volatile for gold. The first half may see positive momentum driven by escalating geopolitical tensions, while the second half could witness profit-taking activities. As Donald Trump prepares to return to the White House in January 2025, markets will closely monitor U.S. economic data to assess how the Federal Reserve manages inflationary pressures arising from the Trump administration’s policies.
Following the Christmas holiday, this week has been devoid of significant economic data, at least until the next. As a result, gold is likely to trade sideways today, leaning towards an upward trend based on the latest developments mentioned above. The suggested strategy is to look for buying opportunities with targets at $2,630–32, $2,635–37, and $2,640–42, or slightly higher if momentum allows. However, selling opportunities could arise after potential pullbacks, with targets around 5 - 10 Price
Sell Zone: $2,648–50
Stop Loss (SL): $2,655
Take Profit (TP): $2,642–39–34
Buy Zone: $2,609–07
Stop Loss (SL): $2,602
Take Profit (TP): $2,615–20–28
Key Considerations:
Given that today is a Friday, liquidity may remain low, and markets could see sudden price spikes triggered by thin trading volumes. Exercise caution in your trades, especially as many remain in holiday mode. Stay safe with your accounts, and trade prudently!
GOOD LUCK!
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❗️ DISCLAIMER: The content shared in the training program is designed for educational and informational purposes only, so the program is not a financial advice or a solution.
❗️ DISCLAIMER: The content shared in the training program is designed for educational and informational purposes only, so the program is not a financial advice or a solution.
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