December 16 Gold Evening Strategy

Gold fluctuated widely at a high level, dropping to $4272 before quickly rebounding to $4335, ultimately closing at $4302, unchanged. The U.S. non-farm employment rebounded in November but the unemployment rate rose to 4.6%, a four-year high, with expectations of interest rate cuts putting pressure on the dollar, which hit a two-month low. Combined with risk aversion demand from the Russia-Ukraine situation, this supported gold prices.

On the 17th, spot gold traded around $4324 with narrow fluctuations in the Asian market. On the technical side, the hourly MACD shows a golden cross, and RSI is at 54.2, indicating caution; the daily RSI has risen to 55.2, with gold prices stabilizing above EMA7 and EMA30, while EMA120 is a key resistance level.

In terms of operation, if support holds at 4300-4290, a long position can be taken with a target of 4345; if 4353 is not broken, a short position can be initiated. Aggressive traders can enter early at 4345, and in a fluctuating market, it’s advisable to not get too attached and secure profits steadily. #黄金