PANews reported on December 22 that Matt Simpson, senior analyst at global brokerage and financial services firm StoneX, said that gold's upward trend since the October lows has been supported by seasonal factors, and the year-end trading volume contraction makes this trend difficult to stop unless a new catalyst or profit-taking occurs.

Data shows that over the past 50 years, gold's average return in December is 1.1%, with a 52% probability of rising. However, in months with price increases, the average positive return reaches 4.78%, indicating a tendency for upward movement during the Christmas and year-end trading period. Simpson points out that there are currently no signs of a price peak in gold, and the Relative Strength Index (RSI) has just entered overbought territory, consistent with a healthy upward trend.

As the year draws to a close, gold bulls need to remain cautious, but the current trend still has room for further upward movement, and any pullback is likely to be met with strong buying interest on dips.