On December 16, 2025, the gold market showed a high-level correction trend, with international and domestic spot and futures varieties falling, while only offline gold store prices remained high and stable. Under the intertwining of bullish and bearish factors, there is a high probability of maintaining a high-level oscillation in the short term. The following is a detailed analysis:

1. Price performance: Internationally, the London gold spot price is currently reported at $4285.1/ounce, down $18.83, a decrease of 0.44%. In the domestic market, the gold T+D quotation is 966.3 yuan/gram, a decrease of 0.90%; the Shanghai gold main contract quotation is 971.42 yuan/gram, a decrease of 0.60%. Offline gold store prices remain firm, with Chow Tai Fook and Chow Sang Sang both at 1353 yuan/gram, and Lao Feng Xiang and Chow Sang Sang both at 1349 yuan/gram, overall stabilizing around 1350 yuan/gram.

2. Core influencing factors: On the bullish side, global central banks have increased their gold holdings for 13 consecutive months, with net gold purchases expected to exceed 1200 tons in 2025, providing long-term support for gold prices; the market still has expectations for the Federal Reserve to cut interest rates in 2026, indirectly lowering US bond yields and reducing the holding cost of gold. On the bearish side, signs of easing in the Russia-Ukraine situation have led to a retreat of safe-haven premiums, causing some funds to exit; after the London gold previously touched a high, $4300 became the profit-taking line, with a large number of profit-takers selling triggering a short-term correction, and there is a clear divergence within the Federal Reserve regarding interest rate cuts, suppressing bullish momentum.

3. Technical situation: The daily upward trend of London gold has not been broken, but there are signs of a dead cross in the KDJ indicator, and the MACD red bars are shrinking, indicating weakened short-term upward momentum; in the 4-hour level, there is heavy selling pressure in the range of $4335 - $4345, with the RSI indicator overbought, presenting a risk of correction. The domestic gold T+D is firmly supported around 960 yuan, while the Shanghai gold main contract fluctuates around 975 yuan. Although it has fallen during the day, it has not broken the key support, overall following the international gold to maintain a high-level oscillation.

Gold can be bought low at 4285-4270, aiming for 4300-4310 #美联储降息