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By: Razan Hilal, Market Analyst
Gold enters the final weeks of the year supported by an established uptrend that has developed across multiple timeframes. Rising lows from late October and November continue to anchor the broader structure even as momentum softens beneath key resistance. Traders are monitoring whether the recent hesitation reflects consolidation before another attempt higher or the early signs of a broader fatigue. The market is approaching several levels where stability or failure will determine if the trend can hold into the new year.
Razan Hilal, FOREX.com Market Analyst, provides insight into how these technical structures shape gold’s near term direction and its vulnerability around pivotal levels.
The advance from late October has built a sequence of higher lows that continues to act as the structural backbone of gold’s uptrend. This pattern reinforces underlying strength even as the metal lags behind other assets approaching record territory. Hilal notes that “the overall bias is bullish with price action aligned with an uptrend connecting consecutive higher lows since November 21st”, underscoring how these levels shape participation. Yet the market’s proximity to resistance means any deviation from these rising anchors can quickly alter conviction.
Short term pressure is emerging at the 4060 to 4050 zone, where repeated pullbacks signal hesitation against an area that has capped progress twice in early December. Hilal highlights that this behaviour “can confirm a possible double top formation”, which places added attention on whether buyers can reclaim control. A loss of support below 40150 could extend weakness toward the 4100 and potentially the 4000 region, increasing the risk of a deeper corrective phase. These levels now serve as the pivot between consolidation within the trend and the beginning of a more directional shift.
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--- Expert: Razan Hilal, FOREX.com Market Analyst
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