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Gold Technical Analysis - Gold Trading: 2024-12-04
Gold Technical Analysis Summary
Above 2655.35
Buy Stop
Below 2635.28
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Neutral |
| MA(200) | Sell |
| Fractals | Buy |
| Parabolic SAR | Buy |
Gold Chart Analysis
Gold Technical Analysis
The technical analysis of gold price on the 4-hour timeframe shows XAUUSD,H4 is rebounding toward the 200-period moving average MA(200) after retracing down following return above MA(200) two weeks ago. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 2655.35. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 2635.28. After placing the pending order the stop loss is to be moved every day to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (2635.28) without reaching the order (2655.35) we recommend cancelling the order: the market sustains internal changes which were not taken into account.
Fundamental Analysis of Precious Metals - Gold
Goldman Sachs analysts believe falling interest rates and consistent central bank demand could sustain gold’s rally through 2025. Will the XAUUSD continue rising?
Central banks worldwide started buying gold in early 2022 to diversify their reserves away from the dollar after the United States and other Western countries responded to Russia’s invasion of Ukraine by freezing and even seizing Russia’s central bank assets, according to Goldman Sachs. This central bank buying buoyed gold prices. Goldman Sachs forecasts central bank demand will not slow down even as their gold purchases slowed in the third quarter, and on November 18 reiterated its stance that gold prices will hit $3,000 per ounce by the end of 2025. Expectations of persistent central bank demand are bullish for gold. At the same time higher bond yields after Trump’s election are a downside risk for gold price.
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