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Gold’s Trend Grabbing Attention of Traders

By:
Yaron Mazor
Published: Jan 3, 2018, 12:30 UTC

Gold’s strong December trend carried into the New Year with gains yesterday.

gold

The precious metal is near 1314.00 U.S Dollars an ounce and is becoming speculative. Gold is challenging September highs and will see increased trading volume next week.

Post-Christmas Surge in Gold Shines On

Gold has managed to grab the attention of traders the past week. The commodity caused losing positions for many traders in October and November because of volatility.

Gold 1H Chart
Gold 1H Chart

However, Gold has put in a serious post-Christmas surge and finds itself near 1314.00 U.S Dollars an ounce.

Convincing Rise in Value since Early December

The commodity has put in a convincing rise of value since early December and experienced little in the way of downward action.

Gold 4H Chart

In the last few weeks, Gold has managed to climb from the 1265.00 U.S Dollar range and not look back.

Gold’s Challenging Question for Speculators

Light holiday trading conditions remain prevalent, and full volume will not be seen until early next week, but the results in Gold have produced solid gains for traders riding its trend.

The question speculators are now asking, is if Gold can challenge its September highs? The precious metal did touch 1320.00 U.S Dollars an ounce yesterday but ran into to some headwinds. However, traders may continue to look for gains.

Gold Daily Chart
Gold Daily Chart

In the short term, we believe Gold may be positive. In the mid-term and long-term, we are unbiased.

Yaron Mazor is a senior analyst at SuperTraderTV.

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About the Author

Yaron Mazorcontributor

Yaron has been involved with the capital markets since 1998. During the past 16 years, Yaron has been a day and swing stocks trader in the American market. Yaron has founded and made successful investments into businesses spanning exciting industries – from apparel to restaurants and bars, to high tech, medical technology, and education.

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