Gold Price Prediction for December 15, 2017

Gold Rebounds on Robust Retail Sales
Comex Gold
Comex Gold

Gold prices rebounded as demand for retail products surged, showing that the holiday season is kicking into gear.  Prices increased for a second consecutive day, running into resistance near the 10-day moving average at 1,257.  Support is seen near the December lows at 1,236.  Negative momentum is decelerating as the MACD (moving average convergence divergence) histogram prints in the red with an increasing trajectory which points to consolidation.

Retail Sales Were Strong

U.S. retail sales rose 0.8% in November and was up 1.0% excluding autos. October’s 0.2% headline increase was bumped up to 0.5% and the 1.9% September gain was boosted to 2.0%, while the 0.1% ex-auto gain was revised higher to 0.4% and the 1.2% September increase was revised to 1.3%. Excluding autos, gas, and building materials, sales were up a firm 0.8% versus 0.4% previously. Motor vehicles and parts sales dipped 0.2% from a prior 1.2% jump. That was about the only negative number.

Don't miss a thing!
Discover what's moving the markets sign up for a daily update delivered to your inbox

More Forecasts

See All
Dow Jones 31 weekly chart, December 18, 2017

Dow Jones 30 and NASDAQ 100 forecast for the week of December 15, 2017, Technical Analysis

ETH/USD weekly chart, December 18, 2017

ETH/USD forecast for the week of December 18, 2017, Technical Analysis

BTG/USD weekly chart, December 18, 2017

Bitcoin Gold DASH and Monero forecast for the week of December 18, 2017, Technical Analysis

Expand Your Knowledge

See All
Bitcoin Mining for Dummies

Bitcoin Mining for Dummies: How to Mine Bitcoin

Can Le Pen Make France Great Again?

The Story of Marine Le Pen

Currency wars threat global economy and political stability

World War III – The Currency War


Favorites

SymbolLast PriceChange
EURUSD
EUR/USD
1.1750
-0.0023
-0.2%
GBPUSD
GBP/USD
1.3321
-0.0109
-0.81%
XAUUSD
Gold
1255.3
+2.1050
+0.17%
CL
Crude Oil
57.345
+0.2750
+0.48%
SPX
S&P 500
2682.7
+28.750
+1.08%
DAX
DAX 30
13112.5
+77.500
+0.59%
Live Quotes

Don't miss a thing!

Discover what's moving the markets sign up for a daily update delivered to your inbox