Gold prices were volatile in a tight range amid mixed US data and cautious Chair Powell's speech.
Zimbabwe’s Nov gold production rose 53% YoY to 3,766 kg, reflecting increased supply following a period of high prices.
However, JP Morgan calls for 3,000 USD per troy ounce target in 2025, but short-term volatility from political headlines remains
XAUUSD consolidated and moved in a narrowing range, indicating an accumulation phase before any apparent breakout to hint at the trend direction.
If XAUUSD consolidates further, the price may stay within the 2620-2666 range.
However, a breakout of the narrowing range could prompt a retest at the range's bounds.
Zimbabwe’s Nov gold production rose 53% YoY to 3,766 kg, reflecting increased supply following a period of high prices.
However, JP Morgan calls for 3,000 USD per troy ounce target in 2025, but short-term volatility from political headlines remains
XAUUSD consolidated and moved in a narrowing range, indicating an accumulation phase before any apparent breakout to hint at the trend direction.
If XAUUSD consolidates further, the price may stay within the 2620-2666 range.
However, a breakout of the narrowing range could prompt a retest at the range's bounds.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.