Gold price analysis: XAU / USD sideways in mid-December

  • The gold price should end the week with slight gains, but it remains in a narrow range
  • The next resistances at $ 1480/1485

Gold price daily chart

Gold moved sideways in December. The yellow metal is caught in a range between $ 1,455 to $ 1,485, but has been trading below its smoothings for the past 50 and 100 days.

Gold price 4 hour chart

If the bulls want to continue the long-term uptrend, they need a breakout above $ 1,480 / 1,485 next week. The next relevant resistance would be $ 1,515. Support at $ 1,465 and $ 1,455 / 50.