Gold Standstill Near 6-month High – Volatility Fades Over Holidays

The precious metal gold price remains bullish above the $1,274 support area. The market is slow but definitely bullish over rising demand...


GOLD held steady after climbing a six-month peak on Friday, backed by a weaker dollar. The concerns over global economic growth and turbulent stock markets drive the bullion to the second week of gains.

At the moment, the precious metal’s price remains bullish above the $1,274 support area. The market is slow but definitely bullish over rising demand for haven assets. On the upper side, gold can remain under pressure beneath the resistance area around $1,283.

Support Resistance
1268.51 1280.83
1261.46 1286.1
1249.14 1298.42
Key Trading Level: 1273.78

GOLD – XAU/USD – Trade Plan

Consider buy positions above $1,274 support zone with a stop loss below $1,270 and take profit around $1,282 today.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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