Gold Market Outlook 11 December 2024

Gold Market Outlook 11 December 2024

Gold bars on a red background with a bar graph, representing the AI trading market and the gold trading news.

Article by: ETO Markets

Gold prices (XAU/USD) have stabilized around $… after recent fluctuations, influenced by expectations of a cautious Federal Reserve stance on rate cuts. This has driven US Treasury yields higher and supported the US Dollar, creating headwinds for gold despite support from geopolitical risks and trade war concerns. Traders remain cautious ahead of the release of US Consumer Price Index (CPI) data, a critical indicator for Fed policy decisions and the commodity's near-term trajectory. Meanwhile, geopolitical tensions escalate with Israel's military actions in Syria and Ukraine's push for increased defence funding and NATO support. Amid global economic shifts, including anticipated rate cuts by the Bank of Canada and European banks, the Fed's outlook remains uncertain, with hawkish comments from officials tempering expectations of significant rate reductions. The CPI report is expected to signal modest inflation increases, likely shaping market sentiment and gold's performance ahead of the Fed's December policy meeting. 

From a technical perspective, the breakout above the $…-… zone and the strengthening daily chart oscillators suggests a bullish outlook for gold prices (XAU/USD). On the downside, support near $…, marking the starting point of the bullish outlook, is expected to limit risks, with $… (a two-week low) serving as an additional key support level. On the upside, sustained gains above $… could propel prices toward resistance at $…. Clearing these levels would signal the end of the recent corrective phase and reinforce bullish momentum, potentially driving gold toward the $… zone, followed by $… and ultimately the record high near $…. 


Want completely chart technical analysis
and trade recommendations on XAUUSD?

Want completely chart technical analysis
and trade recommendations on XAUUSD?

Want completely chart technical analysis
and trade recommendations on XAUUSD?

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The information provided on this website is general in nature only and does not constitute personal financial advice. Please note that investing in CFDs and Margin FX Contracts carries significant risks and is not suitable for all investors. You don’t own, or have, any interest in the underlying assets. Any information or general financial product advice given is generic in nature and does not take into account your financial situation, needs or personal objectives. Past performance is not a reliable indicator of future performance. Investing in leveraged products carries significant risks. We recommend that you seek independent advice and ensure that you fully understand the risks involved before trading. It is important that you read and consider our disclosure documents
(Privacy Policy & Risk Disclosure) before you acquire any product.

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Disclaimer

ETO Markets Limited is registered in Seychelles with Company Number 850672-1 and authorised by the Financial Services Authority (FSA), Licence Number SD062; ETO Markets LLC is registered in Saint Vincent and the Grenadines with Company Number 3286LLC2023.


The information provided on this website is general in nature only and does not constitute personal financial advice. Please note that investing in CFDs and Margin FX Contracts carries significant risks and is not suitable for all investors. You don’t own, or have, any interest in the underlying assets. Any information or general financial product advice given is generic in nature and does not take into account your financial situation, needs or personal objectives. Past performance is not a reliable indicator of future performance. Investing in leveraged products carries significant risks. We recommend that you seek independent advice and ensure that you fully understand the risks involved before trading. It is important that you read and consider our disclosure documents
(Privacy Policy & Risk Disclosure) before you acquire any product.

2024 ETO Markets | All rights reserved

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Disclaimer

ETO Markets Limited is registered in Seychelles with Company Number 850672-1 and authorised by the Financial Services Authority (FSA), Licence Number SD062; ETO Markets LLC is registered in Saint Vincent and the Grenadines with Company Number 3286LLC2023.


The information provided on this website is general in nature only and does not constitute personal financial advice. Please note that investing in CFDs and Margin FX Contracts carries significant risks and is not suitable for all investors. You don’t own, or have, any interest in the underlying assets. Any information or general financial product advice given is generic in nature and does not take into account your financial situation, needs or personal objectives. Past performance is not a reliable indicator of future performance. Investing in leveraged products carries significant risks. We recommend that you seek independent advice and ensure that you fully understand the risks involved before trading. It is important that you read and consider our disclosure documents
(Privacy Policy & Risk Disclosure) before you acquire any product.

2024 ETO Markets | All rights reserved

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