Gold traders are unlikely to see a pick-up in volatility ahead of the Christmas slow down as short-term support and resistance levels remain in play. Recent bursts of volatility in other risk markets have not been reflected in the gold market, and this is likely to remain the case for the near term. Gold is stuck in a month-old range between $1,763/oz. and $1,815/oz. apart from the sharp sell-off and rebound on December 15, and with very little on the horizon to prompt the precious metal to re-test these levels, gold looks set to crab sideways going into next year.
