SIDEWAY gold accumulates below 2626 at the end of the week

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XAU / USD trend forecast December 20, 2024

Gold prices (XAU/USD) hold steady during the first half of the European session on Friday, supported by the prevailing risk-averse sentiment. Heightened geopolitical tensions and ongoing trade war fears, combined with the looming threat of a potential US government shutdown, prompt investors to seek refuge in the yellow metal. This flight to safety globally results in a slight decline in US Treasury bond yields, which limits the recent surge of the US Dollar (USD) to a two-year high and provides further backing for the commodity.

After forming a long-term bearish structure, along with economic news that does not support XAU, gold is sideways and accumulating below 2626.

/// SELL XAU : zone 2625-2628

SL: 2633

TP: 50 - 150 - 300pips (2598)


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Gold price recovered around 2630 - after yesterday's 25 point interest rate cut