Gold Market Outlook 12 December 2023

Gold Market Outlook 12 December 2023

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

Article by: ETO Markets

After losing the $2,000 mark following the release of the US Nonfarm Payrolls report last week, spot gold continues to decline on Monday. A stronger-than-expected report caused the US dollar to spike, but not for the intended reasons. Because of new worries regarding the direction of monetary policy and its potential impact on the economy, market players bought the USD as a safe haven rather than because they were confident in the strength of the currency.

The 4-hour chart indicates that the risk is likewise biased lower in the near run. Another indication of heightened … interest is the 20-SMA crossing below the 100-SMA above the larger one, which caused XAU/USD to accelerate its decline after breaking below a flat 200-SMA. Meanwhile, technical indicators continue to move steadily southward around oversold readings without showing any symptoms of fatigue. On November 13, the yellow metal hit its lowest point at $…, which must be broken to confirm a … in the following sessions.

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and trade recommendations on XAUUSD?

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and trade recommendations on XAUUSD?

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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; ETO Group Pty Ltd., ABN 66 155 680 890, is a financial services company and regulated by Australia Securities & Investments Commission (ASIC), AFSL No. 420224.
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; ETO Group Pty Ltd., ABN 66 155 680 890, is a financial services company and regulated by Australia Securities & Investments Commission (ASIC), AFSL No. 420224.
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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