Gold Price Analysis: XAU/USD remains unable to consolidate above $1,820
|- Gold prices print new highs, but continues to have difficulties holding above $1,820.
- Divergence in metals: gold tests daily highs while silver hits fresh lows.
- Volatile final hours of 2022 across financial markets on the London fix.
Gold prices are hovering around $1,820 about to end 2022 practically flat for a wild year. On Friday, XAU/USD rose to as high as $1,825 and then pulled back. The bias point to the upside, but the yellow metal continues to show difficulties in holding above the $1,820 zone.
Silver and gold prices showed an unusual divergence. Silver tumbled from fresh highs at $24.15 to 23.66$ while gold remained near the top. XAU/USD is up 0.21% and XAG/USD falls by 0.95%.
Volatility is on the rise during the last hour of trading of the year across financial markets. The Dow Jones is falling by 0.76% and the Nasdaq by 1.25%. US stocks are about to have the worst year in more than a decade.
It has been a wild year for gold. It reached levels above $2,000 during the first half of the year and then tumbled until it built a base around $1,615 from where it started a recovery that is still going on.
Gold daily chart
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