It's Christmas already for Metals – Gold (XAU/USD), Silver (XAG/USD) and Platinum (XPT/USD) Trading Levels

Ben Graham · 4 horas atrás

Christmas Trading can be both uneventful and chaotic – some traders rush to exit their long-held positions to take a stress-free holiday rest.

The absence of counteracting parties leads to more erratic flows, as seen in this morning’s Stock Market action.

But away from the traditional Christmas Stock Market trading, Metals trade around global exchanges on a different set of fundamentals.

And it seems that they are the most beneficent victims of Santa's flow.

Just today, Gold came very close to $4,500 before retracting somewhat, but allowed Silver, Platinum, and Palladium to reach multi-year highs (or set new records in the case of Silver).

Ranging from 0.70% for the Yellow Metals to above 5.50% for Platinum and Palladium, they are grabbing all the attention of the few traders that still have skin in the game before 2025 ends.

Screenshot 2025-12-23 at 12.29.34 PM — A look at the daily performance in Metals, December 23, 2025 – Source: TradingView. XAG = Silver, XAU = Gold, XCU = Copper, XPT = Platinum, XPD = Palladium

It could be the final bouts of volatility for Markets, but keep a close eye on whether geopolitical tensions arise, which could add more fuel to Commodities.

As many institutions are out to defend certain products, you can also attempt to capture some rare holiday algorithmic patterns – these require thorough study of charts and may not be found until a while.

Let's dive in a quick overview of the daily flows and some short-term trading levels for Gold (XAU/USD), Silver (XAG/USD) and Platinum (XPT/USD).

Gold 4H Chart and Technical Levels

Screenshot 2025-12-23 at 12.43.00 PM — Gold (XAU/USD) 4H Chart, December 23, 2025 – Source: TradingView

The breakout towards new all-time highs is currently ongoing. Watch reactions when prices reach the $4,575 level (high of the measured move).

Levels to watch for Gold (XAU/USD) trading:

Resistance Levels

$4,497 Current all-time High
Potential new ATH resistance (Measured Move) $4,500 to $4,575
1.618% Fibonacci Projection $4,687

Support Levels

Preceding All-time High Pivot $4,300 to $4,400
Key Support and Triangle top $4,200 to $4,240
50-Day MA $4,150
Major Pivot $3,950 to $4,000 (200-period MA)
$3,700 consolidation Support
$3,500 Major Support

Platinum 4H Chart and Technical Levels

Screenshot 2025-12-23 at 12.58.15 PM — Platinum (XPT/USD) 4H Chart, December 23, 2025 – Source: TradingView

Platinum is just going mental at this point.

Up 10% in the past 24 hours and not stopping anywhere, it really could attempt a move to catch up to Gold if things continue that way (even if there's quite some way to go towards that target).

Platinum Technical Levels to keep on your charts:

Resistance levels

$2,299 March 2008 All-time High
Session highs $2,275
$2,500 Psychological Level

Support levels

May 2008 Support $2,050 to $2,100
$1,950 Past Day Highs retest support
2025 Channel upper bound $1,850 (Mini-Support)
2013 and Current year highs $1,700 to $1,750
$1,620 to $1,650 FOMC Support
Major High Timeframe pivot $1,500 to $1,600

Silver 4H Chart and Technical Levels

Screenshot 2025-12-23 at 12.45.15 PM — Silver (XAG/USD) 4H Chart, December 23, 2025 – Source: TradingView

Silver is still following closely its upward-channel and hasn't retraced in quite a while.

A potential Fibonacci-resistance is coming up at around $71.40 at a confluence with the top of the 4H Channel. Above this there will be not resistance until the $75 psychological level.

Levels to watch for Silver (XAG/USD) trading:

Resistance Levels:

Daily Highs and potential Resistance $70 to $71.40
$71.10 Session highs
$75 Potential Psychological Resistance

Support Levels:

Pivot $65 to $67 at Previous All-time Highs
Major Intraday Support $61 to $63
Pre-FOMC Support $58.00 to $60

Safe Trades and Merry Christmas!

Follow Elior on Twitter/X for Additional Market News, interactions and Insights @EliorManier

Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.
If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.
Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.
© 2025 OANDA Business Information & Services Inc.