Commodity Roundup: China's Apparent Oil Demand Declines, Focus Turns to Fed

Seeking Alpha19:02

Gold has suddenly surged! The gold price has just surpassed 2660 USD as significant data from the USA arrives. How to trade Gold?

#Gold Technical Analysis# On Monday (December 16), during the early European market, spot gold suddenly surged quickly in the short term, with the gold price just breaking through the $2660 per ounce mark, rising nearly $14 during the day.

FX16816:40

Gold prices have rebounded by more than 12 dollars from the intra-day low! Two charts to view the technical outlook for Gold. How can investors take profits?

On Monday in the Asian market, spot Gold continued to rebound, with the price currently rising to around $2,656 per ounce, rebounding more than $12 from the daily low of $2,643.38 per ounce touched earlier in the session. FXDailyReport Analyst Nicholas Kitonyi stated that from a technical perspective, according to the 60-minute chart, the Gold price is trading within a downward channel.

FX16811:51

The price of Gold is forming a huge "cup and handle" bullish pattern! Analyst: Gold will reach 3000 dollars next year, with a short-term correction in the first quarter becoming a buying opportunity.

Analysts indicate that Gold has formed a significant cup and handle pattern on the monthly chart, forecasting that gold prices will rise to 3,000 USD next year, and the short-term adjustment in the first quarter may provide a strategic Buy opportunity.

FX16809:34

After a 30% surge this year, who will buy gold next year? JPMorgan: Global central banks, Chinese mothers, and Western Gold ETFs all have room for growth.

Driven by macroeconomic uncertainty and expectations of interest rate cuts by the Federal Reserve, Global central banks, China Consumers, and Gold ETFs are set to become the main buyers of gold next year. JPMorgan predicts that the gold price may exceed $3,000 per ounce by 2025.

wallstreetcnDec 15 17:58

GOLD FUTURES LIKELY TO TRADE HIGHER NEXT WEEK

BernamaDec 14 09:06