GOLD PRICE TREND ANALYSIS FOR TODAY, DECEMBER 13, 2024

SPDR Gold Trust sold 24.88 tons of gold on December 12, which is the reason for the sharp decline in gold prices last night, suddenly dropping back into the previously broken downtrend structure around the 2675-2676 region.

Key Resistance Levels: 2700 - 2710 - 2732
Key Support Levels: 2666 - 2675

XAUUSD XAUUSD Trading Strategy Around Price Zones:

SELL XAUUSD around the 2700-2701 region
Stoploss: 2706
Take Profit 1: 2695
Take Profit 2: 2690
Take Profit 3: 2675

“If there is a breakout above the 2728 level during the day, we look to sell around the 2749-2750 region in a long-term channel.”

BUY XAUUSD around the 2675 region
Stoploss: 2670
Take Profit 1: 2680
Take Profit 2: 2685
Take Profit 3: 2690

Note: Always set a stop loss in all cases to stay safe!

Henrybillion wishes you a successful trading day.