No significant impact from macroeconomic data is expected in relation to gold.
XAU/USD short-term forecast
The previous week's trading activity considered quite low, thus no significant price moves occurred.
XAU/USD daily charts review
On the daily candlestick charts, gold is trading within a descending triangle. There is a high probability of a directional price move at the beginning of 2025. A movement to the downside could bring the price of gold towards the 2500.00 level, while a breakout to the upside could push the price to 2720.00.Daily Candle Chart
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Traders take profits
A slight decrease in the short bias has occurred compared to the previous week, but there is still a short trading bias in gold. Trader sentiment suggests that potential downside momentum should be considered.
Within the 1000-point range around the latest price, there are 80% buyers and 20% sellers.