⭐️GOLD: forecast for Dec 20 - Dec 24

⭐️GOLD: forecast for Dec 20 - Dec 24

19 December 2021, 11:08
Viktar Varapayeu

➡️ At the end of the week, GOLD has been closed at  1798.160$. Inflation continues to worry the Central Banks, as a result of which the metal is gaining support from buyers. Also, the growth was facilitated by the decline in Treasury yields.

Although the yellow metal is still under the bearish mood, there is reason to believe that the instrument is recovering somewhat. Approximately this area is located near the level of  1787.555$ (marked on the chart). Growth is expected from the upper border of the last formed balance. The best way would be to wait for the approach to the indicated area and, based on the price behavior, enter the market. In any case, if sellers fail to break down the price area of ​​ 1771.280$ - 1787.555$, this is a good signal to prepare for longs, at least. Under this scenario for the coming week, it is assumed that the price would reach the level of  1822.865$, under the target № 2 is the level of  1851$.

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