12.16 Monday Gold Morning Review Ideas Sharing

Last week, the gold market displayed a clear double kill of both bulls and bears. The price slightly surged to $4283 in the morning before correcting and dropping to $4264, where it found support. In the afternoon, the bulls made another push, first breaking the previous day's high of $4287, and during the European session, it directly attacked and stood above $4300, then accelerated upward, reaching a maximum of $4339 before adjusting.

Entering the US session, the gold price quickly dropped to $4321, and then surged again, reaching a maximum of $4354 in the US market. However, it failed to stabilize at a high point, and the gold price quickly plummeted, erasing all intraday gains within an hour, with a minimum of $4257. There was a slight rebound at the end of the trading session, ultimately closing around $4300. The daily candlestick showed a small bullish line with a long upper shadow, while the weekly candlestick was also a small bullish line that rose and then fell.

This week, the focus should first be on the fundamentals: First, the delayed November non-farm data will be released on Tuesday evening at 20:30; secondly, US retail sales data and CPI will be published on Wednesday and Thursday, respectively; additionally, the market anticipates speculation regarding a possible 25 basis point rate cut by the Bank of Japan on Friday; finally, this week is the last week before Christmas, and market sentiment may be more complex, with volatility possibly further increasing, so it is crucial to manage risk.

The overall approach this week remains bullish. In the morning session, look for buying opportunities around the $4290 line near the 4-hour moving average, considering it as an important support level. The trend target for this week is tentatively set at the $4350 line; it is recommended to act in accordance with the trend and follow the bullish layout.

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