Precious Metals Market News

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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.

Not only are traders increasingly long the US dollar, they are also piling into short EUR/USD bets. And that could pave the way for a sub-parity euro next year.

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.

There's nothing quite like a volatile whipsaw to snap traders out of a lull, and that is exactly what we saw on gold and silver prices on Thursday, during a day of heavy losses. While I suspect price action to remain choppy, I also think they'll grind lower from here.

Gold continues to hold below pre-US election prices as it gives back the advance from the start of the week.

Crude Oil, Gold Forecast: Following China’s commitment to a moderately loose monetary policy in 2025, demand sentiment for Chinese oil and gold has surged, pushing crude oil above $70 and gold above $2,700. Middle East tensions continue to reinforce support levels for these commodities as drastic regional developments unfold.

The price of gold may give back the advance from the November low ($2537) as it struggles to trade back above the 50-Day SMA ($2668).

Gold prices are trading just 5% off the record high with the December range taking shape above uptrend support. Battle lines drawn on the XAU/USD weekly technical chart.

After falling a big 3% last Monday, gold has been trading in tight ranges since, holding mostly within that day’s range. In other words, it hasn’t fallen any further, although it has also made little upside progress.

Gold just finished its worst month in more than a year, and Bitcoin was a big beneficiary as anti-fiat flows drove into crypto-currencies following the Presidential election win of Donald Trump.

We may have seen an important swing low on the yen looking at the change of speculative market positioning. And that could see a much deeper pullback on USD/JPY.

Gold has found some relief from a weaker US dollar and lower yields in the last couple of days, but it could come under renewed pressure as the greenback’s weakness could be temporary, while easing Middle East tension owing to the ceasefire agreement point to lower haven demand.

Last week was the strongest weekly outing for gold since the regional banking crisis in 2023; but gold’s nine-month streak of gains is at risk as the metal finally pulled back in November.

Bitcoin, Gold Analysis: Ceasefire agreements are transitioning from speculation to reality ahead of the holiday season and Trump’s upcoming term. Gold’s rally has stalled below the $2,700 mark as haven demand wanes, while Bitcoin has retreated slightly below the psychological $100,000 level.

Gold analysis: After the big sell-off on Monday, I will try to examine what this means for gold in terms of direction in the near-term outlook, purely from a technical point of view.