- Gold has the best year since 2010, up $ 350 or 22%.
- The XAU / USD continues to test the $ 1,900 level, a critical short-term resistance.
Gold is about to end the year on a bullish bias, testing the $ 1,900 barrier, supported by a falling US dollar. It gained 22% for the year and hit a record $ 2,075 in August. It then pulled back, reaching levels below $ 1,800.
The rebound of XAU / USD From the November low near $ 1,760 it faces strong resistance at $ 1,900. A break above could open the doors for more gains. The daily chart points higher in gold, but although below $ 1,900, gains are considered limited. A drop below $ 1,875 would weaken the outlook.
In December, the metal rose more than 6% after falling during the previous four months in a correction to record levels. It resumed the upside and consolidated 2020 gains. It’s the best year for gold since 2010.
Other metals have had a great year as well, with silver gaining more than 45%, palladium by 20% and platinum by 11%.
Technical levels
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