{"id":15915,"date":"2024-11-29T07:30:59","date_gmt":"2024-11-29T07:30:59","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=15915"},"modified":"2024-11-29T07:30:59","modified_gmt":"2024-11-29T07:30:59","slug":"gold-shows-modest-recovery-after-dip","status":"publish","type":"post","link":"https:\/\/www.global-vtrader.com\/en\/analysis\/gold-shows-modest-recovery-after-dip\/","title":{"rendered":"Gold Shows Modest Recovery After Dip"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li>Gold prices rebounded after testing key support levels, pushing above the 100- and 200-hour moving averages.<\/li>\n\n\n\n<li>Despite a 3% monthly decline, gold&#8217;s bullish outlook remains intact, with seasonal tailwinds in December and January.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p>Gold (XAU\/USD) has seen a solid recovery this week after a disappointing start on Monday. The precious metal opened the week at $2,636.99 but found solid support near the 38.2% Fib retracement level of last week\u2019s rebound, as price action never dipped below $2,630 before buyers stepped in.<\/p>\n\n\n\n<p>The early dip was followed by a tussle around the key hourly moving averages, with gold closing at $2,663.07, up 1.99% from its Monday low of $2,634.07.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/11\/image-47-1024x440.jpeg\" alt=\"\" class=\"wp-image-15916\" style=\"width:1450px;height:auto\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: The day&#8217;s high touched $2,666.25, pushing the precious metal firmly above both the 100-hour and 200-hour moving averages, as seen on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\" title=\"\">VT Markets app<\/a>.<\/em><\/p>\n\n\n\n<p>Currently, gold is still down by just 3% for the month, and despite that, it remains on track for its third monthly decline in 14 months, following a strong rally throughout the year.<\/p>\n\n\n\n<p>Even with the slight dip, gold buyers continue to show up on any dips, which is a positive sign for bulls.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">The Race to Accumulate Gold Like Never Before <a href=\"https:\/\/t.co\/vRsimoKKWN\">https:\/\/t.co\/vRsimoKKWN<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/1862368695370051972?ref_src=twsrc%5Etfw\">November 29, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Looking ahead to December and January\u2014typically strong months for gold\u2014the seasonal tailwind could provide some upside potential, even though gold has already surged by nearly 30% this year.<\/p>\n\n\n\n<p>Whether the precious metal will continue to rise based on seasonal factors alone remains to be seen.<\/p>\n\n\n\n<p>Key risks to gold&#8217;s continued strength include potential market volatility tied to political developments, notably the <a href=\"https:\/\/t.co\/2K2gR2O0mK\">incoming U.S. administration<\/a> in January 2025.<\/p>\n\n\n\n<p>However, as seen throughout this year, gold has managed to rally strongly, irrespective of shifts in the macroeconomic outlook or political shifts.<\/p>\n\n\n\n<p>While the <a href=\"https:\/\/t.co\/kxRDpUJJzK\">Fed&#8217;s policy stance<\/a> and potential rising Middle East and Black Sea tensions will be important to monitor, gold&#8217;s structural bullishness continues to provide a solid argument for further gains in the near term.<\/p>\n\n\n\n<p>So, despite recent fluctuations, gold remains in a strong position to keep moving higher as it builds on its upward momentum.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a>\u00a0and\u00a0<a href=\"https:\/\/myaccount.vtmarkets.com\/login\">start trading<\/a>\u00a0now.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices rise after dipping earlier, with buyers pushing the price above key hourly moving averages. &#8211; vtmarkets.com <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[7],"class_list":["post-15915","post","type-post","status-publish","format-standard","hentry","category-analysis","tag-gold"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/comments?post=15915"}],"version-history":[{"count":0,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/15915\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/media?parent=15915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/categories?post=15915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/tags?post=15915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}