{"id":43609,"date":"2025-12-01T13:30:22","date_gmt":"2025-12-01T13:30:22","guid":{"rendered":"https:\/\/xlence-com.wp-dev.int.theitops.net\/?post_type=news_analysis&#038;p=43609"},"modified":"2025-12-17T13:32:22","modified_gmt":"2025-12-17T13:32:22","slug":"golds-weekly-update-golds-price-renews-its-bullish-tendencies","status":"publish","type":"news_analysis","link":"https:\/\/www.xlence.com\/es\/news-analysis\/golds-weekly-update-golds-price-renews-its-bullish-tendencies\/","title":{"rendered":"Gold\u2019s Weekly Update: Gold\u2019s price renews its bullish tendencies"},"content":{"rendered":"\n<p><a href=\"https:\/\/www.xlence.com\/en\/news-analysis\/golds-weekly-update-golds-price-renews-its-bullish-outlook\/\" target=\"_blank\" rel=\"noreferrer noopener\">Since last week\u2019s update<\/a>, gold\u2019s price has edged higher, signaling a possible renewal of the bullish tendencies for the precious metal. In today\u2019s report, we are to discuss the validity of the negative correlation of the USD with Gold, the market\u2019s expectations for the Fed as well as geopolitical issues that could affect gold\u2019s price. Besides the fundamentals, at the end of the report, we are to add also a technical analysis of gold\u2019s daily chart, for a rounder view.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Making a start by examining the validity of the negative correlation of the USD with Gold\u2019s price, we note that the USD Index, which expresses the relationships of the greenback with a number of its counterparts, has been dropping over the past week, while gold\u2019s price has been on the rise. Hence, we may say that the negative correlation of the two trading instruments is currently active, yet we note that the opposite movements may not be as symmetric with gold may benefit more from the weakening of the USD. Hence, despite a divergence on a quantitative level, the overall principle seems to have been activated and should we see the USD continue to weaken we may see gold\u2019s price benefitting further.<\/li>\n\n\n\n<li>Furthermore, we note that US Bond yields seem to have started to edge higher, yet do not seem to be tempting gold traders to switch, at least not at the current stage. Yet should US bond yields rise materially, they may shift some of the attention from Gold towards US bonds as a safe haven investment destination. On the other hand, the market\u2019s worries for the US economic outlook and the increased market expectations for the Fed to cut rates could keep interest in US bonds at lower levels.<\/li>\n\n\n\n<li>Also, we highlight the market\u2019s expectations for the Fed\u2019s intentions as may have been the key driver behind gold\u2019s direction over the past week. The market as was mentioned in our last update, has switched its expectations and is currently expecting the Fed to proceed with a rate cut in its next meeting on December 10<sup>th<\/sup>. We note that the market expectations for the Fed to cut rates in ten days have intensified over the past week, providing further support for the shiny metal\u2019s price. As the Fed\u2019s meeting nears, we expect the market expectations to intensify further over the coming week.<\/li>\n\n\n\n<li>We also note that no Fed policymaker is expected to speak, given the bank\u2019s moratorium of no statements, two weeks before the meeting, we turn our attention towards the release of the US PCE rates for September. A possible acceleration of the rates could imply a wider resilience of inflationary pressures in the US economy and thus add more pressure on the Fed to keep rates unchanged. Thus, an acceleration of the PCE rates could weigh on gold\u2019s price, while a possible slowdown could provide a lift for gold\u2019s price.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/li>\n<\/ul>\n\n\n\n<p>Also on a geopolitical level, we note that US diplomatic efforts for a peace deal in Ukraine are ongoing despite some resistance from the Ukrainians. The possible outcome of the efforts are highly uncertain yet should there be signals for a possible peace plan being accepted, we may see them weighing on gold\u2019s price as market worries on a geopolitical level may ease. On the flip side tensions in Venezuela are escalating with the US directly now threatening the Maduro Government. Should we see tensions escalating further with a possible US military operation on the ground of Venezuela, we may see the price of gold getting some support as market worries may intensify further.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-gold-technical-analysis\">Gold technical analysis<\/h2>\n\n\n\n<p>Since our last update, gold\u2019s price continued to rise and in today\u2019s Asian session and European session, seems to have broken the 4240 (S1) resistance line, now turned to support and has reached levels not seen for the past six weeks. Hence, we switch our bias for a sideways motion of the precious metal in favour of a bullish outlook at the current stage. We also note that the RSI indicator has neared the reading of 70, implying a strengthening of the bullish market sentiment. Yet we also note that he precious metal\u2019s price action has reached the upper Bollinger band which may slow down the bulls, if not cause a correction lower of gold\u2019s price action. <\/p>\n\n\n\n<p>Should the bulls maintain control over the gold\u2019s price, we may see it aiming if not breaking the 4375 (R1) resistance line, which is an All Time High level for the bullion\u2019s price, while even higher we note the 4500 (R2) resistance level as the next possible target for the bulls. <\/p>\n\n\n\n<p>Should the bears take over, we may see gold\u2019s price retreating, breaking the 4240 (S1) support line, continuing even lower to break also the 4130 (S2) support level, and then break the upward trendline, signalling an interruption of the upward motion, while even lower we note the 4000 (S3) support barrier. \u00a0\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-xau-usd-daily-chart\"><strong>XAU\/USD Daily Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"698\" height=\"323\" src=\"https:\/\/www.xlence.com\/wp-content\/uploads\/2025\/12\/gold-report-1-12-2025.png\" alt=\"Line chart of XAU\/USD showing price fluctuations, highlighting key trends in the currency exchange rate in Gold price\" class=\"wp-image-43611\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Support: 4240 (S1), 4130 (S2), 4000 (S3)<\/li>\n\n\n\n<li>Resistance: 4375 (R1), 4500 (R2), 4650 (R3)<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Since last week\u2019s update, gold\u2019s price has edged higher, signaling a possible renewal of the bullish tendencies for the precious metal. In today\u2019s report, we are to discuss the validity of the negative correlation of the USD with Gold, the market\u2019s expectations for the Fed as well as geopolitical issues that could affect gold\u2019s price. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":28170,"template":"","news_category":[109],"class_list":["post-43609","news_analysis","type-news_analysis","status-publish","has-post-thumbnail","hentry","news_category-weekly-insights-gold"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gold Weekly Update: Gold\u2019s price renews its bullish tendencies<\/title>\n<meta name=\"description\" content=\"Gold price analysis: Market expectations for Fed cuts and geopolitics shape demand while technicals show bullish momentum.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.xlence.com\/en\/news-analysis\/golds-weekly-update-golds-price-renews-its-bullish-tendencies\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" 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