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XAUUSD Gold Forecast and Technical Analysis : December 2017

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XAUUSD Gold Forecast and Technical Analysis: December 2017

Our Gold Forecast for December:

XAUUSD can stay in the range of 1250 USD -1300 USD for a while.

The US is growing and the expectation that inflation will be able to strengthen in 2018 is being negatively reflected in gold prices.

GOLD prices may move towards 1254 and price range from $ 1250-1300 during the month
.
On the other hand, the gold position of the ETF, which holds gold in their portfolio,
it is increasing again. The total positions of the funds that have been buying since the beginning of August reached 2160 tons

Powell was elected as the new President of the FED. He may continue to pursue the policy of incremental interest rates like Yellen.
North Korea resumed missile tests and has announced that they have the power to threaten the United States

However, the negative impact of US inflation and growth on gold prices is likely to continue for a while

Weekly Gold Forecast:

Ongoing political turmoil in U.S is helping gold prices limit its losses this week as the market remains within its narrowest trading range in 12 years. Equities, DXY and bond yields all dropped sharply after news broke that former White House national security advisor Michael Flynn pleaded guilty to lying to the Federal Bureau of Investigation.

Momentum grows for tax cuts and DXY and equity markets can move higher. This may put GOLD prices under pressure.

Technicals and Key Levels

Continue Reading:


This article was written by Emre Tutucu for http://www.fxters.com/xauusd-gold-forecast-and-technical-analysis-december-2017/ on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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