GOLD PRICE FORECAST: XAU/USD’S DOWNSIDE BIAS REMAINS INTACT WHILE BELOW $2,645

Tina Collins

23 Dec 2024 — 1 min read

GOLD PRICE FORECAST: XAU/USD’S DOWNSIDE BIAS REMAINS INTACT WHILE BELOW $2,645

Gold price is recovering from monthly lows, driven by year-end unwinding.

The US Dollar is bouncing back after a profit-taking slide, despite sluggish US Treasury bond yields.

Gold remains a "sell-on-bounce" trade while below the 21-day SMA and amid a bearish daily RSI.

Further upside for gold is limited, as it faces pressure from the US Dollar bounce and stable US Treasury bond yields.

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ECB MEMBER ELDERSON WARNS OF RISKS OF RAPID RATE CUTS!

CHINA'S IMPORTS OF RUSSIAN OIL HIT RECORD HIGH LAST YEAR

CHINA'S VICE PRESIDENT HAN ZHENG MEETS MUSK AND VANCE, DISCUSSES CHINA-US RELATIONS

DOW RISES MORE THAN 300 POINTS, S&P 500 HEADS FOR BEST WEEK SINCE NOVEMBER AS RATES FALL