Gold Chart Analysis for December 2019 | Trade War to Spike Price?

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The gold price couldn’t manage to make the most of its recent recovery and many traders thought it was set for more downside in the coming days and weeks. Gold trading has reflected the continued march of stocks and the capital outflow of investments halted the gold uptrend that saw the gold chart reach over $1520. But what is in store for the gold price in December 2019?

The gold chart is currently around $1460 but our gold price analysis does show that the bulls seem to have lost a large part of their drive to pull prices lower. Solid support levels have held over the last weeks and the gold price in December 2019 seems poised for a rebound.

Helping the cause of the bulls are the most recent developments in what now seems like a global trade war initiated by the United States. A careful gold price forecast should take note of the tariffs against South American metal companies and the threat of levies on French goods. Both can be seen as signs of unstability and the price of gold could react by going up.

The drop in the dollar is also something that we noticed while performing our gold chart analysis – on Monday it saw heavy selling across many currency pairs and for now that seems to be the trend going forward. The gold price in 2019 has been heavily impacted by the fluctuation in the dollar and this is definitely something to check when coming up with a trading plan and gold price forecast.

Give us a thumbs up if you liked this gold chart analysis for December 2019 and make sure to subscribe to the capital.com channel for more coverage of gold prices and gold analysis!

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Comments

IAN WARD says:

Can´t stand his accent. Sounds like a street Dealer.

Ender Gomez says:

Podrían hacer una versión en español gracias

Mark Nordgård says:

Same price on friday,what spike the price then ?

C says:

David, forgive my newbie ignorance, but I'm curious what financial instrument you're buying/selling Gold through here? I've been contemplating what's the best for me to use for swing trading Gold, in Canada on Questrade. I just checked out Capital.com to see what it's all about, but not sure it's good for Canadians? Cheers…

Lucke Black says:

Thank you for video. Buy silver and gold coins. Prices are still ok for long term allocation

trendingsoftware says:

David is the best financial presenter on YouTube ( even better than my other favourite maneco64 ).
Great content, professionally and clearly presented.
I'm up to my eyeballs in silver, but where gold goes silver will follow and then exceed due to the geared relationship

Muhammed Mohsin says:

Always waiting for videos from your end. Great analysis and videos as usual. Keep up the good work

James Helliwell says:

I think an increase in the repo markets may push gold higher due to inflation concerns/ the big debt problem

Free World says:

Own gold & silver at any price.

Umerboss Boss says:

Brother what do you think about UK elections?
And what will be the effect on gbp?

Umerboss Boss says:

Hello brother

fahimmuchi says:

Thanks for this David. Please do one about crude oil and natgas

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