Analysis of the gold trend on December 23

This wave of market trends is indeed not simple. The Federal Reserve has opened a window for interest rate cuts, inflation data is weakening, initial jobless claims continue to decline, and coupled with the instability of the geopolitical situation in the Middle East and the Americas, these factors combined make the case for going long on gold increasingly compelling. Gold prices have surged to a new high of 4497, and bullish momentum is strong.

The operational advice is very clear - buy on dips. Seriously, don't think about shorting at the top, as this market is prone to being caught in a reverse trap.

The key is whether 4500 can hold steady. If it breaks successfully, the next target will be 4560. However, to be fair, the increase yesterday was indeed a bit sharp, and the European session might see some technical corrections, but the probability of a significant drop is low.

The bottom support is around 4470 and 4450, and there is a strong support at 4406 below that. As for the pressure above, it's still not very clear. It is expected that during the day, it will fluctuate and repair a bit above 4442, and then continue to rise. With the holiday approaching, the upward momentum may slow down a bit.