Citing HashNews, StoneX senior analyst Matt Simpson noted that gold's upward trend since the October low has been supported by seasonal factors, with reduced year-end trading volume making the trend hard to reverse unless new catalysts or profit-taking emerge. Historical data shows gold has averaged a 1.1% return in December over the past 50 years, with a 52% chance of rising. In months where gold rose, the average positive return reached 4.78%, indicating a bullish bias during the Christmas and year-end trading period. Simpson added that the current gold price trend shows no signs of peaking, with RSI just entering overbought territory, consistent with a healthy uptrend. As the year-end approaches, gold investors should remain cautious, but the trend still has room to rise, and any pullbacks may face strong buying interest.
StoneX: Gold Price Trend Not Near Peak, Pullbacks May Face Strong Buy Interest
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Summary
StoneX senior analyst Matt Simpson said the current bullish trend in gold remains intact, with the price showing no signs of peaking. Seasonal factors and lower year-end trading volume have supported the move higher. Gold’s RSI is just entering overbought levels, a sign of a healthy uptrend. Historical data shows a strong bullish bias in December, with a 52% chance of rising. While a bearish trend is unlikely without new catalysts, any pullbacks could attract strong buying interest.
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