Gold retraces from $4,500, bulls in control above $4,350

Gold started the early Asian session with strong bullish momentum reaching psychological zone $4500
Initial consolidation failed to break the barrier and dropped to Fibonacci zone $4444 and tapped into 1 Hour 200 SMA $4428
Short time frame structure is lacking bullish conviction, calls for temporary correctional retracement towards $4410-$4380
Bulls need to reclaim overhead resistance $4480 to resume upward advance clearing through $4500 for next leg $4550

Sunil Kumar Dixit SK Charting

Fundamental drivers

Geo political tensions are causing global economic uncertainty as US attack on Venezuela has sparked safe haven demand resulting in Gold rush.

Global central banks are working on reducing dollar dependence and increasing Gold holdings in the reserves.

Dollar Index shows weak attempts to gain acceptance above 98.80 resulting in odds against recovery.

Technical drivers

1 Hour RSI reading of 42 indicates hesitation to resume bullish advance with chances of a lower retracement.

Price stability below 1 Hourly 50 EMA $4452 keeps momentum under pressure and sellers in control.

Overhead resistance $4475-$4480 restricts potential for bullish rebound.

A support zone sits at $4410 which coincides with 1 Hourly 100 SMA below which next potential downside retracement may reach Fibonacci zone $4380

Author

Sunil Kumar Dixit

SK Charting

Sunil Kumar Dixit is Chief Technical Strategist and founder of SK Charting, a research firm based in India. He tracks Precious Metals, Energy, Indices and Currency Pairs. He also participates as an expert panellist on Channel Television, Nigeria.

EUR/USD eases to four-week lows near 1.1650

EUR/USD now loses further momentum and recedes to multi-week lows near 1.1650 on Thursday. The pair’s extra retracement comes on the back of the persistent bid tone in the US Dollar as investors continue to gear up for the release of the December NFP figures on Friday.

GBP/USD: Further weakness could challenge 1.3400

GBP/USD remains under unabated selling pressure on Thursday, slipping to fresh three-day lows around 1.3415 in response to further improvement in the sentiment surrounding the Greenback ahead of Friday’s key NFP data.

Gold bounces back to its comfort zone

Gold now manages to regain some balance, fading its earlier pullback to the proximity of the $4,400 region per troy ounce and reshifting its attention to the $4,450 zone on Thursday. The yellow metal’s move lower comes in response to a better tone in the Greenback and the generalised recovery in US Treasury yields.

Crypto Today: Bitcoin, Ethereum, XRP extend decline as ETF outflows pose headwinds

Bitcoin struggles with selling pressure as institutional investor sentiment deteriorates. Ethereum hangs onto the 50-day EMA lifeline amid growing overhead risks and the resumption of ETF outflows.

2026 economic outlook: Clear skies but don’t unfasten your seatbelts yet

Most years fade into the background as soon as a new one starts. Not 2025: a year of epochal shifts, in which the macroeconomy was the dog that did not bark. What to expect in 2026? The shocks of 2025 will not be undone, but neither will they be repeated.

XRP slides as institutional and retail demand falters

Ripple is trading down for the third consecutive day on Thursday amid escalating volatility in the cyrptocurrency market. After peaking at $2.41 on Tuesday, its highest print since November 14 amid the early-year rally, XRP has quickly ran into aggressive profit-taking.