StoneX: Currently, there are no signs of a peak in the gold trend, and any pullback may encounter strong Buy the Dips interest.

PANews, December 22 news, Matt Simpson, senior analyst at global brokerage and Financial Service company StoneX, stated that the rise in gold since the low in October has been supported by seasonal factors, and the shrinking volume at the end of the year makes this trend difficult to hinder, unless new catalysts or profit-taking actions occur. Data shows that over the past 50 years, the average return rate of gold in December is 1.1%, with an upward probability of 52%. However, in the months where it rises, the average positive return rate reaches 4.78%, indicating that the trading period before Christmas and the end of the year tends to rise. Simpson points out that there are currently no signs of a peak in gold price trends, and the Relative Strength Index (RSI) has just entered the overbought zone, consistent with a healthy upward trend. As the end of the year approaches, gold bulls need to remain cautious, but the current trend still has further upside potential, and any pullback may encounter strong interest in buying on dips.