13 Dec 2019
Gold Price Analysis: XAU/USD sidelined into Friday, trades near $1475/oz
- Gold is ending the week with gains while remaining confined to familiar ranges.
- The level to beat for bulls is the 1480/85 resistance zone.
Gold daily chart
The theme of December has been a sideways consolidation so far. The metal is trapped in a range between the 1455 and 1485 levels while below the 50 and 100-day simple moving averages (DMAs).
Gold four-hour chart
If the buyers want to resume the longer-term bull trend, it will be interesting to see next week if the market can have a successful breakout above the 1480/85 resistance zone. On the way up, the main target is likely the 1515 resistance level. Support is seen at 1465 and the 1455/50 support zone.
Additional key levels