Gold prices are holding close to all-time highs on Tuesday, December 23, 2025, as investors balance a powerful safe-haven bid against the headwinds of firmer U.S. economic data and a steadier dollar.
At around 10:45 a.m. ET, widely followed spot-price feeds put gold near $4,468 per ounce, keeping bullion firmly in record territory even after a pullback from the session’s peak. [1]
Gold price at 10:45 today: the key levels investors are watching
Here’s where the market stood around mid-morning U.S. time:
- Spot gold (XAU/USD): ~ $4,468/oz around 10:45 a.m. ET (latest quote around that time). [2]
- Intraday swing: gold traded roughly between $4,431 and $4,498 on the day, with the high marking a fresh record. [3]
- Record print: Reuters reported bullion hit an all-time high of $4,497.55 before easing back. [4]
- COMEX positioning signal: U.S. gold futures activity remained heavy, with the gold futures market reporting sizable volume and rising open interest earlier in the session. [5]
One reason you may see slightly different “gold price today” readings at the same time: spot gold is traded globally across venues and liquidity pools, and many retail quote screens label their data as real-time while still operating with small delays or different sourcing.
Why gold eased after making a new all-time high
The story of gold price action on 23.12.2025 is essentially a tug-of-war:
1) Stronger U.S. growth data encouraged a brief “risk-on” and dollar rebound
Reuters said gold pared gains after stronger-than-expected U.S. economic data helped the dollar trim losses—typically a headwind for dollar-priced metals because it makes gold more expensive for non-U.S. buyers. [6]
FXStreet detailed the same dynamic: gold backed off record highs as the U.S. Dollar regained some footing following a mixed set of U.S. data releases. [7]
2) Thin holiday liquidity amplified intraday swings
With Christmas week approaching, liquidity often thins—meaning smaller flows can move prices more than usual, especially when markets are already stretched near record levels.
The bullish forces still driving gold prices in 2025
Even after today’s pullback from the highs, gold’s 2025 rally remains intact—and it’s not just about day-to-day data surprises.
Reuters summarized the big drivers behind bullion’s surge of about 70% this year:
- Geopolitical tensions and safe-haven demand
- U.S. rate cuts
- Strong central bank buying
- Robust investment demand [8]
Those themes matter because gold is not only a “commodity.” For many investors, it behaves like a macro hedge—responding to real yields, currency confidence, and geopolitical risk premia.
Geopolitics is back in the driver’s seat
The safe-haven bid got a fresh jolt from geopolitical headlines.
Reuters pointed to a flare-up in tensions involving the U.S. and Venezuela, including President Donald Trump’s order for a “blockade” of sanctioned oil tankers entering and leaving Venezuela, alongside remarks indicating he was not ruling out the possibility of war with the country. [9]
Gold tends to respond to developments like these because they raise the probability of disruptive outcomes—sanctions escalation, energy market volatility, or broader risk-off sentiment—where investors often seek liquidity and perceived “store of value” assets.
Gold forecast and price predictions: is $5,000 the next big target?
The most-searched question right now—after “gold price today”—is some version of: How high can gold go next?
The $5,000 forecast is now mainstream
Reuters reported that analysts at SP Angel see central bank reserve diversification as a “major tailwind” for gold through the end of the decade—and added: “We see gold rising towards $5,000/ounce next year.” [10]
That matters for two reasons:
- It frames gold not as a short-term trade, but as part of a multi-year reserve and allocation shift.
- It suggests the market is starting to anchor to a new psychological “round number” level the way it previously did with $2,000, $3,000, and $4,000.
Why $5,000 is plausible — and what could delay it
A move to $5,000 would be easier to sustain if these conditions persist into 2026:
- Lower (or falling) real interest rates and renewed confidence in further easing
- A structurally softer U.S. dollar trend
- Continued central bank accumulation and diversification away from dollar-heavy reserves
- Elevated geopolitical risk (even without a full-scale shock)
What could slow the move:
- A re-acceleration in U.S. growth/inflation that pushes yields higher
- A sustained dollar rebound
- A sharp risk-on rotation that pulls capital back toward equities and credit
- Profit-taking after a historically strong year
In other words: the $5,000 target isn’t just a headline—it’s a referendum on whether 2025’s macro regime continues.
Technical analysis: key support and resistance levels into year-end
Gold’s chart is flashing “strong trend” and “overheated” at the same time—an important combination for late-December trading.
FXStreet’s technical read highlights:
- Gold is in a strong uptrend, trading above rising moving averages, but momentum indicators are stretched.
- The RSI is around 81 (overbought), a condition that often precedes consolidation rather than an immediate reversal. [11]
- FXStreet cited nearby dynamic support around $4,348 (9-day SMA) and deeper support near $4,161 (50-day SMA). [12]
From a practical trading and investor perspective:
- Resistance zones: $4,500 (psychological), then the narrative magnet at $5,000
- First support zone: the mid-$4,400s (where dips have been repeatedly bought)
- Risk zone: if profit-taking accelerates, the market may test the next technical supports referenced above
Investing.com’s day range also underscores how much “air” is in the move: $4,431 to $4,497 is a wide swing for a single session, even in an ultra-bullish tape. [13]
What other markets are signaling about gold today
Gold rarely moves in isolation—so investors are also tracking cross-asset confirmation.
Silver is screaming “supply squeeze”
Reuters reported silver hit a record $70.66 and remained near $70, with commentary pointing to multi-year deficits and rising industrial demand. [14]
When silver accelerates alongside gold, it often signals that the precious-metals complex is benefiting from both:
- Safe-haven flows (gold-heavy)
- Industrial demand and scarcity narratives (silver-heavy)
Quote screens show gold still near record territory despite the dip
MarketScreener, for example, showed gold around $4,446.73 on a delayed basis and highlighted a year-to-date gain near +69.5%—reinforcing the scale of the 2025 repricing. [15]
Bottom line: gold’s trend remains bullish, but volatility is the price of admission
As of 10:45 a.m. ET on December 23, 2025, gold is still trading near historic highs—around $4,468 per ounce—after printing a fresh record close to $4,498 earlier in the session. [16]
Today’s news flow shows the market’s current playbook clearly:
- Bad or uncertain geopolitical news supports gold
- Evidence of resilient U.S. growth can temporarily cap rallies via the dollar
- Analyst forecasts are increasingly clustering around $5,000, turning that into the next major psychological battleground [17]
If you’d like, I can rewrite this piece in a more specific house style (Reuters-like, WSJ-like, or a punchier Discover-first format) while keeping the same verified numbers and same-day sources.
References
1. www.jmbullion.com, 2. www.jmbullion.com, 3. www.investing.com, 4. www.reuters.com, 5. apnews.com, 6. www.reuters.com, 7. www.fxstreet.com, 8. www.reuters.com, 9. www.reuters.com, 10. www.reuters.com, 11. www.fxstreet.com, 12. www.fxstreet.com, 13. www.investing.com, 14. www.reuters.com, 15. www.marketscreener.com, 16. www.jmbullion.com, 17. www.reuters.com
