- Gold have the best year since 2010, rising $350 or 22%.
- XAU/USD continues to test the $1900 area, a critical short-term resistance.
Gold is about to end the year with a bullish bias, testing the $1900 barrier, supported by a US dollar decline. It gained 22% over the year and hit a record high at $2075 back in August. It then pulled back, hitting levels under $1800.
The rally of XAU/USD from the November low near $1760 faces a strong resistance at $1900. A break above could open the doors to more gain. The daily chart points to the upside in gold, but while below $1900, gains are seen as limited. A slide under $1875 would weaken the outlook.
In December, the metal rose more than 6% after falling during the previous four months on a correction from record-high levels. It resumed the upside and consolidated 2020 gains. It is the best year for gold since 2010.
Other metals also have a great year, with silver gaining more than 45%, Palladium by 20%, and Platinum by 11%.
|Today last price||1897.08|
|Today Daily Change||3.78|
|Today Daily Change %||0.20|
|Today daily open||1893.3|
|Previous Daily High||1893.62|
|Previous Daily Low||1876.16|
|Previous Weekly High||1906.87|
|Previous Weekly Low||1855.28|
|Previous Monthly High||1965.58|
|Previous Monthly Low||1764.6|
|Daily Fibonacci 38.2%||1886.95|
|Daily Fibonacci 61.8%||1882.83|
|Daily Pivot Point S1||1881.77|
|Daily Pivot Point S2||1870.23|
|Daily Pivot Point S3||1864.31|
|Daily Pivot Point R1||1899.23|
|Daily Pivot Point R2||1905.15|
|Daily Pivot Point R3||1916.69|
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