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Gold trading strategy before Christmas 2024
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Global Gold Prices Drop Ahead of Christmas Holiday
Gold prices edged lower during Monday's subdued holiday trading session, pressured by the strengthening US dollar and rising US Treasury yields, as investors awaited clearer signals on the Federal Reserve's monetary policy direction for 2025.
At the close of trading on December 23, spot gold fell by 0.4% to $2,611.17 per ounce, while gold futures dropped by 0.6% to $2,628.20 per ounce.
The US dollar index advanced by 0.4%, hovering around a two-year high, reducing gold's appeal for holders of other currencies. Meanwhile, the yield on the benchmark 10-year US Treasury note also climbed.
Despite the Fed cutting interest rates by 0.25% last week, signals of a less aggressive rate reduction in 2025 pushed gold prices to their lowest levels since mid-November 2024 last week.
While gold typically benefits from a low-interest-rate environment, investors are adjusting their expectations for the upcoming year.
As noted above, following the release of disappointing US consumer confidence data at 10:00 PM yesterday, consumer sentiment remains gloomy. This sentiment could influence the Fed's policy direction, contributing to a modest dip in gold prices post-news.
For today, the strategy is to focus on buying at key resistance levels of 20 - 27 - 33, observing price reactions in these zones to scalp for short-term sell opportunities. Conversely, if prices retrace below these levels and rebound, monitor zones (10-08) for potential buy entries. As today marks the beginning of the Christmas holiday, market movements are expected to be narrow and slow, with price ranges likely between 10-15 points. Careful placement of orders at optimal levels is advised.
+ SELL ZONE: 2632 - 2634
Stop Loss (SL): 2638
Take Profit (TP): 2620 - 2614
+ BUY ZONE: 2603 - 2601
Stop Loss (SL): 2596
Take Profit (TP): 2610 - 2614
Gold prices edged lower during Monday's subdued holiday trading session, pressured by the strengthening US dollar and rising US Treasury yields, as investors awaited clearer signals on the Federal Reserve's monetary policy direction for 2025.
At the close of trading on December 23, spot gold fell by 0.4% to $2,611.17 per ounce, while gold futures dropped by 0.6% to $2,628.20 per ounce.
The US dollar index advanced by 0.4%, hovering around a two-year high, reducing gold's appeal for holders of other currencies. Meanwhile, the yield on the benchmark 10-year US Treasury note also climbed.
Despite the Fed cutting interest rates by 0.25% last week, signals of a less aggressive rate reduction in 2025 pushed gold prices to their lowest levels since mid-November 2024 last week.
While gold typically benefits from a low-interest-rate environment, investors are adjusting their expectations for the upcoming year.
As noted above, following the release of disappointing US consumer confidence data at 10:00 PM yesterday, consumer sentiment remains gloomy. This sentiment could influence the Fed's policy direction, contributing to a modest dip in gold prices post-news.
For today, the strategy is to focus on buying at key resistance levels of 20 - 27 - 33, observing price reactions in these zones to scalp for short-term sell opportunities. Conversely, if prices retrace below these levels and rebound, monitor zones (10-08) for potential buy entries. As today marks the beginning of the Christmas holiday, market movements are expected to be narrow and slow, with price ranges likely between 10-15 points. Careful placement of orders at optimal levels is advised.
+ SELL ZONE: 2632 - 2634
Stop Loss (SL): 2638
Take Profit (TP): 2620 - 2614
+ BUY ZONE: 2603 - 2601
Stop Loss (SL): 2596
Take Profit (TP): 2610 - 2614
Trade ativo
Scalping strategy at price range 2620 running 40 pips. Merry Christmas 
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❗️ DISCLAIMER: The content shared in the training program is designed for educational and informational purposes only, so the program is not a financial advice or a solution.
❗️ DISCLAIMER: The content shared in the training program is designed for educational and informational purposes only, so the program is not a financial advice or a solution.
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