Gold Market Outlook 18 December 2024

Gold Market Outlook 18 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 are experiencing downward pressure as markets await the critical Federal Reserve policy decision. Strong US economic indicators, including better-than-expected November retail sales (+0.7%) and robust Services PMI data, have reinforced expectations of a less dovish Fed stance. However, persistent geopolitical tensions, including developments in the Russia-Ukraine conflict (notably the reported Moscow incident involving Igor Kirillov), ongoing Middle East instability, and concerns over potential trade war escalation, continue to provide underlying support for gold's safe-haven appeal. Market sentiment remains cautious ahead of the FOMC's updated economic projections and Chair Powell's commentary on the future rate-cut trajectory. 

Gold (XAU/USD) is consolidating near $… after retreating from its recent peak of $…. The price action shows a formation of lower highs on the daily timeframe, suggesting weakening bullish momentum. The 55-day Simple Moving Average around $… has become a significant technical barrier, while the 100-day SMA provides crucial support near $…. The recent price action exhibits increased volatility with larger daily ranges, indicating market uncertainty. The metal has formed a short-term support base above $…, though the overall structure suggests a potential continuation of the corrective phase if key support levels are breached. 


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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
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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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