Core Viewpoint - International gold prices experienced a significant drop, falling over $200, as profit-taking occurred after a bullish week, but the overall trend remains upward with technical support from moving averages [1][12]. Group 1: Market Performance - On December 29, gold opened at $4,537.12 per ounce, reached a high of $4,548.58, and then fell to a low of $4,303.73, closing at $4,331.93, marking a daily decline of $202.19 or 4.46% [1][12]. - The daily trading range was $244.85, indicating high volatility during the session [1][12]. Group 2: Future Outlook - The opening on December 30 saw gold prices supported by buying interest at the mid-chart level, with geopolitical tensions providing a positive boost [3][13]. - Despite a bearish outlook from upcoming U.S. economic indicators, the long-term bullish sentiment for gold remains intact due to global economic uncertainties and geopolitical risks [3][14]. - The market is closely watching the Federal Reserve's upcoming policy meeting minutes, which may influence gold prices depending on the tone regarding interest rates [14][16]. Group 3: Technical Analysis - The gold price is currently supported by various moving averages, indicating potential buying opportunities if prices retrace to these levels [9][10]. - The monthly chart shows a potential bearish pattern, suggesting risks of a drop to the $4,000-$3,900 range, but a strong performance in the following month could lead to a bullish outlook towards $5,500-$6,000 [16][19]. Group 4: Influencing Factors - The selection of the next Federal Reserve Chair is seen as a critical factor that could either support or hinder gold prices, with expectations leaning towards a more dovish approach [4][8][17]. - Continued adjustments in central bank reserve structures and persistent inflationary pressures are expected to support gold demand in the long term [16].

Market Overview - International gold prices experienced a significant drop, falling over $200, as investors opted for profit-taking after a week of bullish activity and a surge in silver prices [3] - Despite the recent decline, the overall trend remains bullish, supported by global economic uncertainties, geopolitical risks, and central bank gold purchases [3] Technical Analysis - Gold prices fell from a peak to a low of 4305, indicating a substantial decline, but the market has not broken key support levels, suggesting a potential for recovery [4] - If gold stabilizes above 4400, it may indicate a shift back to a strong bullish trend, with targets set at 4500 [4] Investment Strategy - Investors are advised to consider entering long positions in gold, particularly if prices approach 4330, with initial targets at 4400 and further upside potential at 4500 [4] - For domestic gold contracts, a cautious approach is recommended, with opportunities to enter long positions as the market adjusts after recent declines [4]