According to the Shahr-e-Bourse, the gold and coin market approaches the second trading day of the week after experiencing relatively positive volatility on Saturday. Given the weekend closure of global markets on Sunday, the price of the global ounce will remain at last week’s closing rate. Consequently, the direction of the domestic market on December 14 (23 Azar) will be entirely dictated by fluctuations in the dollar price.
Market analysis indicates that the dollar continues to fluctuate in high price channels in the free market, preventing any significant drop in gold and coin prices. However, analysts believe the market may enter a “rest phase” on Sunday. If the dollar fails to register new highs in tomorrow’s transactions, we will likely witness range-bound fluctuations or a minor correction in the gold market.
In the coin market, traders are still struggling to stabilize prices above the psychological barrier of 130 million Tomans. This price level is a “life or death” threshold for the Emami coin. If physical demand in the market decreases on Sunday, a return to the 129 million Toman channel is possible. The coin bubble also remains at high levels, serving as a warning to impulsive buyers.
18-karat gold, which has a high correlation with the dollar, will have its eyes fixed on exchange boards on Sunday. Significant support for 18-karat gold sits in the range of 12,600,000 Tomans. Technical experts believe that as long as the price remains above this support level, the overall trend is bullish; however, breaking it could push the price down toward 12,450,000 Tomans.
A crucial factor for tomorrow’s transactions is the behavior of the market maker. Sundays, when the global market is closed and no specific news threatens the market, usually offer the market maker a good opportunity to control prices and inject calm. If currency supply in the Nima system and the organized market is strengthened tomorrow, the brakes will be pulled on price growth in the gold market.
Overall, it is predicted that the gold and coin market will experience a calmer atmosphere on December 14 compared to Saturday, with prices fluctuating within current ranges unless an unexpected event occurs in the currency market.
