Gold Context: December Open & Holiday Inventory Check

MGCG2026 GC1!

Traders. Here is the context update as we transition into the new month.

Market Context (Holiday Drift): The auction drifted higher on thin volume during the Thanksgiving and Black Friday shortened sessions. This extension was largely driven by a lack of sellers rather than aggressive buying, leaving us with a "thin" structure.

Structure & Inventory: We have significant inventory resting back at 4200 – 4170, sitting just above the Previous Week High (PWH).

Current Action: Price is holding the holiday extension.

The Problem: The move up lacks heavy volume support. We have "unfinished business" below at the breakout zone.

Plan & Execution: Monday marks the start of fresh December flows. I am not interested in chasing this extension at these highs.

Stance: Flat / Patient.

The Test: I want to see Gold rotate back to test the inventory at 4200 – 4170 first.

Decision: We need to verify if buyers will defend this zone (turning old resistance into support) before committing to a new directional bias.

Talk to you for the next update.