Gold Price Forecast: Spot gold is little changed on a daily basis, marginally higher around the 1,813 level. The USD keeps seesawing between gains and losses without a certain catalyst as investors close their books for 2021. Analysis
certain catalyst as investors close their books for 2021. Most financial markets will be closed due to the New Year’s Eve celebration starting in Asia, although US stocks markets will be open while bond markets are due to an early close. Still, no macroeconomic data will be published, and it seems unlikely markets will see some action.
In the near term, and according to the 4-hour chart, gold is neutral-to-bullish. The bright metal has accelerated north after surpassing a directionless 20 SMA, while the Momentum indicator remains directionless within neutral levels. The RSI indicator, on the other hand, heads firmly higher at around 60, also hinting at resurgent buying interest.View Live Chart for the XAU/USD
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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