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Liquidity calm and profit-taking guide the markets

Gold maintains its gains as investors anticipate the start of 2026

Global markets on December 22, 2025, are witnessing a state of relative calm, coinciding with the approach of year-end holidays and lower liquidity in most trading markets. Investors are moving to reduce their open positions and take profits after the strong market movements witnessed in recent weeks, especially following the U.S. interest rate cut.

Gold continues to trade near its high levels, supported by ongoing monetary easing and easing pressure on the dollar, while U.S. stocks move in narrow ranges amid a lack of strong new catalysts.

Traders are looking ahead to the start of 2026 in search of clearer signals regarding the path of interest rates and inflation, making the current movements more of a temporary repositioning rather than a fundamental change in trends.

Gold continues to trade within a clear ascending channel, maintaining its positive momentum after breaking through key resistance levels, supported by a weak dollar and ongoing expectations of monetary easing. The price is currently moving near the upper boundary of the ascending channel, reflecting the strength of the trend, with the MACD indicator re-entering the positive zone, signaling renewed upward momentum.

However, the proximity of the price to high levels may open the door for short-term profit-taking, without changing the overall positive outlook as long as trading remains above key support areas.

Overall trend: Bullish
Support: 4340 – 4275
Resistance: 4420 – 4450

Forecast:
Staying above 4340 supports the continuation of the upward movement and targeting new highs near 4450, while breaking the support may lead to a limited correction before resuming the upward trend.

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