In the past decade, December is the second best month for gold behind the usual January rush. The latter has been a bit mixed in recent years but December has proven to be quite a consistent trend. That is up until now I guess.
So, one can argue that the consistent hot streak this year sort of takes away from usual buying rush in December and perhaps next month in January. That especially with conditions lining up for some profit-taking amid a more hawkish Fed and some technical obstacles.
If sellers can push the boundaries to hold a break below the key level, that will set the foundations for another potential break of the seasonal indicator when we get to January trading.
This article was written by Justin Low at www.forexlive.com. Read More Details
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