Gold in downtrend below 2633
XAU / USD trend forecast December 23, 2024
Gold prices (XAU/USD) remain stable around $2,625 during the early Asian session on Monday. While the Federal Reserve's (Fed) hawkish outlook could pressure the yellow metal, the downside might be limited by a weaker US Dollar following a softer inflation report.
At its December meeting, the Fed reduced interest rates as anticipated but signaled a slower pace for any further rate reductions. The updated Fed dot plot, which outlines future rate expectations, now shows a projected half-percentage point cut in 2025, down from a full percentage point reduction forecasted in September. This has strengthened the US Dollar (USD) and weighed on USD-denominated gold, as rising real interest rates heighten the opportunity cost of holding non-yielding assets like gold.
Gold is moving sideways in the range of 2590 - 2630, accumulating until the end of 2024
/// SELL XAU : zone 2632-2635
SL: 2640
TP: 50 - 150 - 300pips (2605)
Safe and profitable trading
Gold prices (XAU/USD) remain stable around $2,625 during the early Asian session on Monday. While the Federal Reserve's (Fed) hawkish outlook could pressure the yellow metal, the downside might be limited by a weaker US Dollar following a softer inflation report.
At its December meeting, the Fed reduced interest rates as anticipated but signaled a slower pace for any further rate reductions. The updated Fed dot plot, which outlines future rate expectations, now shows a projected half-percentage point cut in 2025, down from a full percentage point reduction forecasted in September. This has strengthened the US Dollar (USD) and weighed on USD-denominated gold, as rising real interest rates heighten the opportunity cost of holding non-yielding assets like gold.
Gold is moving sideways in the range of 2590 - 2630, accumulating until the end of 2024
/// SELL XAU : zone 2632-2635
SL: 2640
TP: 50 - 150 - 300pips (2605)
Safe and profitable trading
Trade active
Gold prices decreased according to today's trend - exactly the PLAN DAY signalTrade closed: target reached
Gold price is under selling pressure at the beginning of the week: around the 2610 area
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💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
MOON | Forex Academy hopes to bring the best experience to the Forex community
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
💠 FREE SIGNAL
💠 Update the fastest news
💠 Trend analysis: XAU, BTC, Currency,...
💠free channel:
" t.me/+FK9DbU7tLiJiNDJl "
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.