Market Analysis: On December 22, spot gold closed up 0.14% on Friday (December 19) at $4,338.22 per ounce, marking a weekly gain of 0.89%. Over the past week, while gold was somewhat overshadowed by silver's record high of $67.45 and its staggering 132% annual surge, gold's own 65% yearly increase remains impressive, reinforcing its status as a core precious metal. Looking ahead, analysts widely expect gold to continue its upward trajectory amid low interest rates and currency depreciation pressures, potentially reaching a new high of $4,400 in the first half of 2026. The upcoming week includes the Christmas holiday, but delayed U.S. Q3 GDP data—postponed due to the government shutdown—will be released, warranting close attention from investors.
Gold Technical Analysis: Last week, gold maintained its bullish trend, with resistance levels identified at $4,355 and $4,385. However, the market was not one-sided, requiring traders to capitalize on both upward momentum and potential pullbacks. This morning, gold extended its gains, driven by geopolitical tensions and safe-haven demand, underscoring the prevailing trend. The outlook for this week remains unchanged: maintain a bullish stance but stay alert for corrective moves. The primary strategy is to buy on dips, with secondary opportunities to short at key highs.
Last week’s peak was $4,375, while the all-time high stands at $4,385. With gold nearing these critical levels, traders should monitor whether these resistances hold. A failure to break through could lead to a corrective phase—ranging from consolidation to deeper retracements, especially if pre-holiday profit-taking accelerates. Support levels this week are at $4,335 and $4,310; a drop below $4,310 may signal a retreat toward $4,250. Intraday, avoid chasing rallies and instead watch for support at $4,335, with resistance at $4,385 and $4,400. Focus on trading around these pivotal levels.
Silver Technical Analysis: After finding support at $64.5 last week, silver consolidated and surged to $68, propelled by strong momentum. The next target could be $70. The bullish trend remains intact, and traders should avoid shorting—only consider buying on pullbacks. Key support levels this week are $66.5 and $64.5. The recommended strategy is to capitalize on dips for long positions.
Disclaimer: The content is for informational purposes only and does not constitute investment advice. Investors should exercise caution and assume their own risks.
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