Seasonal alignment is likely to break gold to new record highs to start the new year year after year Gold shines in January, considered the best seasonal month for gold.
It's just one of those things in the markets and more often than not he does, but will he do it again this time?
The main resistance is currently to the precious metal near $2075 levels, as that remains the critical level to watch as it heads into next year.
Usually, gold can rely on these favorable seasonal moves 9 times out of 10.
But given the technical situation above it is not certain that gold will be able to shine in January trading again, because if gold is to advance further, it must break the key level of resistance outlined above.
Gold's rally since November also comes on the back of a weaker dollar and lower U.S. bond yields, and at the same time, the U.S. federal government is working on rate cuts next year.
The question now for gold is: will gold be able to make a technical breakthrough in January or not?
