XAU/USD: the flat will last until the end of the year. Trading Recommendations

Trading recommendations and Technical Analysis – HERE!

 After the renewed fall in oil prices, the major U.S. stock indices closed Monday with a decrease on average from 0.1 to 0.2%.

On Monday the price of oil on NYMEX fell by 3.4% to 36,81 USD per barrel, the price of spot Brent crude oil fell to around 36.40. Gold lost 0.7% to 1068 USD per ounce.

The gradual tightening of monetary policy by the fed and the global economic recovery will keep gold prices under pressure.

The fed is planning a gradual increase in the key interest rate to 3.25% by the end of 2018.

A stronger dollar will put pressure on gold.

Today at 16:00 (GMT) published data on consumer confidence in the U.S. in December. According to the forecast is expected to increase consumer confidence (93,8 against 90,4  in November). Positive data will strengthen the US dollar. In Thursday's short trading day, and on Friday the financial markets of USA, Europe and Japan will remain closed on the occasion of the celebration of the New Year.

 See also review and trading recommendations for GBP/USD!