XAU USD

Gold gained 27.23% in 2024, the strongest yearly gain since 2010. But the prior episode led to a significant top in 2011 as gold prices then went nine years without a fresh ATH.

Gold defended support for a sixth week with the January opening-range taking shape just above. Battle lines drawn on the XAU/USD weekly technical chart.

It was a banner year for gold prices which are currently showing a 26% gain for 2024 – but it was the 40% rally from February into October that dominated the narrative for gold prices this year.

The metal’s struggles highlight growing expectations that the US Federal Reserve will maintain a more hawkish tone in its upcoming decision. The near-term gold forecast is starting to tilt to the downside ever so slightly.

Gold consolidation continues. The metal rallied all the way up to the 2721 resistance and even set a fresh monthly high. But that’s when the rally stopped, and bears jumped back in.

Gold bulls have pressed the trend over the past week and a big spot sits overhead, plotted $100 above last week’s range support.

Gold prices have shown a 6% growth since November, reaching the $2,700 per troy ounce level once again.

Gold prices (XAU/USD) have been range-bound recently, following a pullback from record highs in late October. This decline ended a nine-month winning streak, with November closing in the red. Some investors anticipate a more significant correction before re-entering the market, leading to a cautious short-term gold outlook.

Gold prices surged more than 4.3% this week with a four-day rally now threatening the October downtrend. Battle lines drawn on the XAU/USD technical charts.

The US Dollar has finally found some resistance after filling the FOMC gap from last year, and that goes along with a EUR/USD bounce from the 1.0500 psychological level.

Gold has been heavily sold so far this month, but Friday showed both a doji and an inside bar after the Thursday low printed at a really big level.

Gold prices plunged more than 9% off the record highs with a third weekly decline now testing initial support. Battle lines drawn on the XAU/USD weekly technical chart.

For now, the ongoing hawkish repricing of US rates after Trump's emphatic victory is keeping US dollar and yields underpinned, and buck-denominated gold undermined.

Gold has now put in two consecutive red bars on the weekly and that’s been rare as there’s only been two other occurrences of such in the past seven months. But it’s still too early to say that the metal has topped.

Gold prices were smashed on the night of the election, similar to what showed in 2016 when the US Dollar posed a stark turn-around on news that Donald Trump would prevail.

Gold Outlook: As market certainty grows post-U.S. elections and the dollar rallies in response to potential inflation risks, gold has faced a sharp pullback. The yellow metal, previously in overbought territory on its monthly timeframe, has plunged nearly 100 points, recharging momentum ahead of tonight's FOMC meeting.

Gold plunged nearly 5% off the record high with the election sell-off now threatening trend support ahead of the Fed. Battle lines drawn on the XAU/USD technical charts.