At the end of December, the gold market was booming, reaching a new high.

As the year comes to a close, spot gold continues to strengthen. London gold has broken through the 4500 mark, reaching a historical high, while domestic gold jewelry prices have also for the first time surpassed 1400 yuan per gram, with Rongtong gold even exceeding 1000 yuan per gram. The logic behind this wave of market movement is quite clear: global tensions have driven up safe-haven buying, expectations of interest rate cuts by the Federal Reserve and the depreciation of the dollar have created a double impetus, coupled with central banks around the world continuing to purchase gold and the replenishment of industrial stocks at the end of the year, resulting in such a strong market pattern.

However, during the year-end period, attention should be paid - Christmas Eve #美联储回购协议计划 on Wednesday ( and Christmas ) on Thursday (, the European and American markets may close early or remain closed all day, and the light trading volume may lead to increased short-term volatility, and the pressure of retraction will also become apparent, so don't be scared by slight adjustments.

How does it look from a technical perspective?

On the daily chart, a series of strong bullish candles have formed, with a complete bullish structure and the moving average system diverging upwards after a golden cross. Although the RSI has reached the overbought zone at 80, this is not a signal of a peak—overbought conditions are normal in a strong trend. In the short term, prices are moving closely along the MA10 moving average and the upper Bollinger Band, with each pullback quickly rebounding to recover lost ground, indicating that this is a strong trend acceleration phase and we are far from the end of the emotional cycle. The key is that the integer level of 4500 has held firm, forming a secondary upward signal, and the trend structure has not been broken. Although the divergence rate has accumulated somewhat in the short term, as long as there is no significant drop in volume, the adjustments in the market are just rhythm changes within a strong trend.

How to operate?

If you are bullish: Set up in the range of 4475-4480, with a stop loss at 4460 and a target aimed at the area of 4520-4550.

If only doing short-term pullbacks: enter short at 4560-4565, stop loss at 4580, target is 4500-4480.

Support and Resistance: 4498→4470→4452 (Support), 4537→4568→4590 (Resistance)

The core of trading is to go with the trend. The direction for gold bulls is very clear right now, so don't try to guess the top. Strictly control stop losses, adjust flexibly based on key levels, and deal with the market fluctuations at year-end rationally. )$PAXG