Justin Low, an analyst at the US financial website Investinglive, said that while the Christmas holidays are approaching, gold and silver traders are not slowing down. Precious metals continued to rise in the new week, and spot gold has now soared to a new record high above $4,400 an ounce. If gold clearly stands above $4,400, it will open up more room for the upside. However, it is likely that the headwinds facing gold will not really become apparent until the second half of 2026. Even so, it is impossible to rule out the possibility that market participants will absorb this expectation ahead of time. The key challenge to the gold rise narrative is that “major central banks will gradually shift from cutting interest rates and re-mention interest rate hikes in the future.” This is something to be wary of. But at least for now, gold buyers will continue to maintain their bullish momentum. However, poor liquidity may amplify current gains, especially as the Christmas and New Year holidays approach, and market trading is getting lighter. Therefore, even if seasonal rules indicate that December and January have been good months for gold in the past 20 years, liquidity factors need to be taken into account when looking forward to further gains.

Justin Low, an analyst at the US financial website Investinglive, said that while the Christmas holidays are approaching, gold and silver traders are not slowing down. Precious metals continued to rise in the new week, and spot gold has now soared to a new record high above $4,400 an ounce. If gold clearly stands above $4,400, it will open up more room for the upside. However, it is likely that the headwinds facing gold will not really become apparent until the second half of 2026. Even so, it is impossible to rule out the possibility that market participants will absorb this expectation ahead of time. The key challenge to the gold rise narrative is that “major central banks will gradually shift from cutting interest rates and re-mention interest rate hikes in the future.” This is something to be wary of. But at least for now, gold buyers will continue to maintain their bullish momentum. However, poor liquidity may amplify current gains, especially as the Christmas and New Year holidays approach, and market trading is getting lighter. Therefore, even if seasonal rules indicate that December and January have been good months for gold in the past 20 years, liquidity factors need to be taken into account when looking forward to further gains.