Gold Trend Forecast This Week (December 9 - December 13)Gold trend is unlikely to decline sharply, although the US Non Farm News was very good, Gold still bounced 264x, when it fell to the price range of 2626 - 2627.
This week, there was quite a lot of news supporting Gold's increase such as: US CPI news may decrease slightly compared to expectations, creating conditions for the FED to continue to reduce interest rates. Central banks such as Canada, Switzerland and Europe ECB continue to cut interest rates next week.
Although the gold market is currently quiet, this could be an accumulation period before a potential price increase. Investors need to closely monitor developments and prepare for future opportunities.
The Central Bank of China announced that it had bought gold again and the war situation in Syria at the end of the week caused gold to have a gap of 15 prices this morning.
Gold Price Forecast
Christopher Vecchio, an expert at Tastylive, said he is neutral on the gold market. He believes that gold prices need to break through the resistance level of $2,725/ounce to create new growth momentum.
Kitco forecasts that gold prices may fluctuate in the range of $2,600-2,800/ounce by the end of 2024. Factors such as the Fed's monetary policy and geopolitical tensions will affect gold prices in the coming time
Good Buy Plan :
Buy 2620 - 2618
SL: 2615
TP: 2635 -2642 -2655 - 2699
or even Buy 2610-2608
SL: 2604
TP: 2618 - 2642- 2699
Gold will decline to 2567.89 if it breaks 2600 (This case is quite low)
Sell Plan:
Sell: 2663
SL: 2668
TP: 2656 - 2652
Sell: 2688 - 2690
SL: 2673
TP: 2674 - 2666 - 2654
