#GoldTechnical analysis.#24K99 News On Friday (December 27), during the late trading session in Asia, spot Gold remained basically stable, with the price currently around $2633 per ounce. The well-known financial News website Economies.com published the latest article on Friday, analyzing the intraday technical outlook for Gold.

According to Economies.com, after a significant rise in Gold prices yesterdaytechnical indicatorsit issued an overbought signal, which may cause Gold prices to decline again in the future.

Previously, in the last trading session, driven by safe-haven demand, the price of spot Gold rose sharply. Russia launched a large-scale Missile and Drone attack on Ukraine's energy infrastructure.

Spot Gold closed on Thursday up $16.59, an increase of 0.63%, at $2633.08 per ounce.

Economies.com wrote in the article that Gold prices previously rose and approached the key Resistance level of $2640.00 per ounce. Notably, the Technical Indicator shows a clear overbought signal, awaiting this factor to push Gold prices down again, keeping the bearish trend scenario valid for the day. The next major target for Gold prices is $2555.00 per ounce.

(Spot gold 4-hour chart Source: Economies.com)

Economies.com added that if Gold prices break through $2640.00 per ounce, it will halt the bearish scenario and lead Gold prices to attempt a return to the major Call trend.

Economies.com expects today's Gold prices to trade betweenResistanceBetween $2615.00 per ounce and the Resistance level of $2650.00 per ounce.

Economies.com stated that today's expected trend for gold prices is bearish.

As of 14:04 Peking time, spot Gold is quoted at $2632.61 per ounce.