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Foretelling Friday: Will Gold Sustain Its Bullish Reversal?

  • Writer: Luke Holland
    Luke Holland
  • Dec 9, 2024
  • 1 min read

Gold opened this morning at around $2,640, signalling an attempt at a bullish reversal after weeks of consolidation. The price action suggests a renewed appetite for the precious metal as it rebounds from its recent range-bound movement.

Infographic titled 'Foretelling Friday’s: Will Gold Sustain Its Bullish Reversal?'. It highlights gold's price trends, key market drivers including US inflation data, geopolitical tensions, and dollar-yield dynamics, with a candlestick chart showcasing gold's recent performance."

Key Drivers to Watch:


  1. US Economic Data: Important inflation data is set to be released from the US on Wednesday, December 11, which could significantly impact market sentiment and gold’s trajectory. A lower-than-expected reading could bolster gold as investors anticipate a more dovish Fed.

  2. Geopolitical Tensions:

    Ongoing uncertainties in the Middle East and Europe could support gold’s safe-haven appeal, driving further upside.

  3. Dollar and Yields:

    Gold’s movement remains inversely correlated with the US Dollar and Treasury yields. A softer dollar could provide the necessary tailwinds for gold to challenge higher levels.

  4. Technical Levels:

    Should gold close above $2,650, it may signal a continuation of the bullish trend. Conversely, a drop below $2,600 could see the metal retest lower support zones.


Looking Ahead:


Is this just a temporary rebound, or are we on the verge of a sustained rally towards new all-time highs? Will Gold Sustain Its Bullish Reversal? Share your thoughts via our social media platforms.


  1. Gold will have a bullish rally and close the week above $2680

  2. Gold will dip amid uncertainty and close the week below $2620

  3. Gold will remain rangebound ahead of


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