Gold Price Prediction for December 25, 2017

Gold prices edged higher climbing for the 7^th consecutive day following a stronger than expected German import price inflation report.  Support on the yellow metal is seen near the 10-day moving average at 1,257. Resistance is seen near the 50-day moving average at 1,274.  Momentum on the yellow metal has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses above the MACD signal line (the 9-day moving average of the MACD line).

German Imports Price Accelerated

German import price inflation accelerated to 2.7% year over year in November, from 2.6% year over year in the previous month. the data were in line with our forecast, but a tad above consensus, as higher energy price inflation lifted the annual rate.