Global Gold Analysis (Daily Time Frame)
In the past week, considering the end of the year, it was expected that the markets would lack significant movement and stay within a range. Global gold prices also ended the trading week within a range.
Main Scenario: Given the previous downward leg and the inability of the price to recover the 2651 level last week, the primary expectation is that the 2584 level will be broken, and gold will reach a lower support level of around 2536.
Alternative Scenario: If the above scenario doesn’t materialize and the 2651 to 2655 range is regained, gold may experience an upward movement towards 2726 at the start of the new year.
Gold Analysis (4-Hour Time Frame)
Main Scenario: If gold loses the 2608 level, the next target will be around 2584.
Alternative Scenario: If gold breaks above and stabilizes above the 2638 level, it could first target the 2651 range and then 2693.
Gold Analysis (15-Minute Time Frame)
Main Scenario: It is expected that gold will reverse from the current levels, and after breaking the 2613 support, it will move towards 2608 and lower targets.
Alternative Scenario: If gold does not reverse from the current area and breaks above and stabilizes above the 2623 level, it may reach the 2631 range and potentially higher areas.