Gold sees modest price increases on the last day of 2021. Gold prices rose modestly in quiet holiday trades early on Friday. Comex gold futures prices closed 2021 with losses of around $75, after closing the last day of December 2020 at $1,895.10. Today, February gold closed at $1,820,20, up $6.20 for the last time. Detail Cryptocoin. com
Critical level for gold
Global stock markets were mixed with quiet overnight trading as some of them were closed for the New Year holiday. US stock indexes point to slightly lower openings as the New York daily session begins. On this last day of 2021, lower volume transactions stand out. The US government is closed today. Risk aversion isn’t as sharp late this week, but risk appetite isn’t either. Key “external markets” today are witnessing Nymex crude prices weakening, trading around $76.25 a barrel. The US dollar index is stable in the early hours of today. Meanwhile, the yield on the US Treasury 10-year note currently brings in 1.51%. For 2021, the 10-year return was up 0.6% – the biggest annual gain in eight years.
Technically, February gold bulls generally have the short-term technical advantage. According to Wyckoff, the next upside price target for the bulls is to produce a close above solid resistance at $1,840.00. The bears’ next short-term bearish price target is to push futures prices below solid technical support at $1,775.00. Initial resistance is seen at $1,825.00 followed by $1,840.00. Initial support is seen at $1,810.00 followed by $1,800.00.