December 22, 2025 — Natural gas markets are starting the holiday-shortened week with a familiar winter tug-of-war: early-season cold boosted prices and withdrawals, but a shift toward milder forecasts is now cooling bullish momentum even as LNG export demand remains elevated.

In the U.S., front-month NYMEX natural gas futures slipped close to 2% in morning trade as forecasters leaned warmer into early January and Lower 48 production continued to surprise to the upside. Overseas, European gas prices edged lower in thin pre-holiday trading as steady supply from Norway and LNG flows helped offset expectations of stronger heating demand. Meanwhile, a wave of policy and geopolitics headlines—from Australia’s new gas reservation framework to fresh Russia-to-China pipeline and sanctioned LNG shipping developments—kept global traders focused on 2026–2027 contract risk and supply security.

Natural gas price today: U.S. futures ease as warmth returns to the forecast

U.S. natural gas futures fell by roughly 1.9% in the morning session, with the January contract around $3.901 per MMBtu at 09:40 a.m. ET, pressured by both higher production and forecasts that point to warmer-than-normal temperatures into early January—conditions that typically reduce heating demand. ^[1]

This pullback follows a sharp early-December run-up that briefly pushed Henry Hub pricing to multi-year highs. The American Gas Association’s latest market indicators describe a clear shift in sentiment: after an early cold snap, demand has eased and futures have been “retreating,” with weather remaining the dominant driver of daily volatility. ^[2]

Key U.S. price context (December swing):

• The AGA notes the January prompt-month contract settled at $3.98/MMBtu on Dec. 19, down materially from early-month levels and well below the early-December peak (AGA cites a $5.29/MMBtu three-year high on Dec. 5). ^[3]
• Intraday trade on Dec. 22 briefly pushed toward ~$4.14/MMBtu in the AGA’s “time of writing” snapshot, underscoring how quickly prices can whipsaw on forecast changes. ^[4]

Weather forecast: the market is trading January warmth, not last week’s cold

The near-term narrative has shifted from “how cold did it get?” to “how warm will it be next?” Meteorologists cited in today’s market reporting expect the U.S. to remain mostly warmer than normal through early January, which would limit space-heating demand relative to seasonal norms. ^[5]

The AGA likewise points to holiday-period moderation, citing NOAA Climate Prediction Center outlooks that tilt above-normal across much of the country into the first week of the new year, with some regional exceptions. ^[6]

What matters for traders is not just temperature direction, but the speed and confidence of model changes. A single forecast shift can reprice the entire front of the curve, especially when liquidity thins around Christmas and New Year’s.

Production: record output is the bear case that won’t go away

Even in winter, it’s hard for prices to sustain a rally when supply keeps setting new highs.

Financial firm LSEG data referenced in today’s reporting shows average Lower 48 output climbing to a record 109.9 Bcf/d so far in December, eclipsing November’s monthly record. ^[7]

The AGA similarly notes that after hitting an all-time daily high late last month, production dipped briefly and then rebounded; as of Dec. 22, output remained meaningfully higher than the same period last year (AGA cites +4.8% year over year). ^[8]

Why this matters for “natural gas price today” searches:
When supply is printing records, bullish weather needs to be consistently colder than normal—not just briefly cold—to keep prices elevated. Otherwise, the market tends to sell rallies and reward storage comfort.

Demand and storage: withdrawals rose early, but inventories still look “okay”

Demand cooled week over week, but it’s not collapsing. The AGA reports total demand (including exports) for the week ending Dec. 22 fell 11.5% week over week while still running slightly above last year’s level for the comparable week. ^[9]

On the storage side, the latest widely cited U.S. weekly pull was sizable: the EIA reported a 167 Bcf withdrawal for the week ending Dec. 12, leaving working gas inventories at 3,579 Bcf. The AGA states stocks were about 0.9% above the five-year average at that point, though below year-ago levels. ^[10]

Bottom line: the early-winter drawdown was real, but strong production and still-comfortable inventories are limiting the urgency premium—especially when warmer forecasts appear.

LNG exports: record feedgas is still the structural bullish pillar

If there’s a consistent floor under U.S. gas demand, it’s LNG.

Today’s reporting puts average feedgas flows to the eight large U.S. LNG export plants at 18.5 Bcf/d so far this month, up from a prior monthly record in November. ^[11]

AGA’s December 22 indicators add more color:

• Feedgas deliveries were materially higher year over year (AGA cites +32.6% versus the first three weeks of December 2024). ^[12]
• U.S. LNG shipping set a weekly record earlier this month, with 40 vessels departing in the week ending Dec. 10 and a combined carrying capacity of 151 Bcf (as cited by AGA from EIA shipping data). ^[13]

In other words: even if residential/commercial heating softens on warmth, export pull can keep the overall balance tighter than it looks from weather alone.

Forecast: what EIA expects for winter prices, withdrawals, and 2026 supply

For readers looking beyond today’s tick-by-tick move, the EIA’s Short-Term Energy Outlook provides the clearest baseline forecast widely used in the market:

• EIA expects the Henry Hub spot price to average about $4.30/MMBtu this winter heating season (Nov–Mar), citing early-December cold and stronger space-heating demand than previously assumed. ^[14]
• Based on NOAA data, EIA assumes December will have more heating degree days than the 10-year average, boosting residential and commercial consumption and reducing storage. ^[15]
• EIA forecasts December withdrawals totaling ~580 Bcf and expects end-of-winter inventories around 2,000 Bcf (still above the five-year average in their outlook). ^[16]
• For 2026, EIA projects U.S. dry gas production averaging about 109 Bcf/d, with higher gas-to-oil ratios in the Permian contributing to supply growth. ^[17]

This is the macro framework traders are testing daily against real-time weather and production data.

Europe natural gas today: TTF edges lower as Norway and LNG supply offset cold risk

European prices opened the week slightly softer, with trading described as narrow and holiday-thinned.

Reuters reporting cited Dutch February TTF down modestly to about €27.70/MWh in morning trade, while UK day-ahead prices also eased. Market participants pointed to steady Norwegian pipeline supply and LNG availability offsetting the colder-demand outlook. ^[18]

Storage remains the key European risk variable. Reuters also cited Gas Infrastructure Europe data putting EU storage around 67.24% full, and noted that lower inventory levels could encourage additional LNG procurement into January and February if winter demand strengthens. ^[19]

European takeaway: the region is not “out of gas,” but it is more sensitive to cold snaps and supply disruptions than it would be with storage closer to last year’s levels.

Australia gas policy: mandatory domestic reservation set to reshape 2027 contracts

One of the biggest policy headlines of Dec. 22 comes from Australia, where the government unveiled a domestic gas reservation framework aimed at preventing future east-coast shortages and smoothing price spikes.

Reuters reports the plan would require LNG exporters on Australia’s east coast to allocate 15% to 25% of output for domestic use starting in 2027, with the mechanism designed around new contracts rather than existing long-term commitments. ^[20]

Australian media reporting frames the move as a “historic” shift for the east coast and suggests reserved volumes could reach hundreds of petajoules annually, with the policy intended to slightly oversupply the domestic market and put downward pressure on prices. ^[21]

Why this matters globally: Australia is a top-tier LNG exporter into Asia, and any policy that changes how incremental supply is marketed can ripple into longer-dated LNG pricing, portfolio contracting strategy, and buyer diversification plans.

Russia and global supply: China pipeline volumes rise, sanctioned LNG cargoes move

Two Russia-linked gas developments reported on Dec. 22 underscore the market’s geopolitical undercurrent:

1) Russia-to-China pipeline gas is rising fast—but it doesn’t replace Europe

A Reuters report says Russian pipeline exports to China via Power of Siberia are expected to reach ~38.6–38.7 bcm in 2025, up from 31 bcm in 2024, and roughly at/above the pipeline’s planned annual capacity. The report also notes discussions on additional projects (including Power of Siberia 2), with pricing still a major hurdle. ^[22]

2) A tanker loaded LNG from a sanctioned Russian project

Reuters also reported that the LNG tanker Kunpeng loaded a cargo from Russia’s Portovaya LNG plant—despite Western sanctions—based on ship-tracking data. The vessel arrived Dec. 18 and departed with a cargo on Dec. 21, according to the report. ^[23]

For the market, these stories are less about today’s Henry Hub tick and more about future trade flows, enforcement risk, and how quickly supply can be rerouted when traditional buyers reduce purchases.

Natural gas outlook: 7 things traders are watching next

With Christmas approaching and liquidity thinning, the next moves could be driven by a small number of catalysts:

1. U.S. temperature model volatility into early January (warmth vs. renewed cold shots). ^[24]
2. Lower 48 production—whether record output persists or freeze-offs/maintenance tighten supply. ^[25]
3. LNG feedgas and shipping cadence—any new daily/weekly export records, or outages that cut flows. ^[26]
4. Storage trajectory—whether withdrawals meaningfully slow if warmth dominates late December. ^[27]
5. European storage and wind/weather patterns—which affect both gas-fired generation and LNG bidding intensity. ^[28]
6. Australia’s reservation design details—especially how “15%–25%” is applied across projects and contract types. ^[29]
7. Russia-related trade and sanctions enforcement—pipeline expansion negotiations and sanctioned LNG cargo movements. ^[30]

References

1. www.bairdmaritime.com, 2. www.aga.org, 3. www.aga.org, 4. www.aga.org, 5. www.bairdmaritime.com, 6. www.aga.org, 7. www.bairdmaritime.com, 8. www.aga.org, 9. www.aga.org, 10. www.aga.org, 11. www.bairdmaritime.com, 12. www.aga.org, 13. www.aga.org, 14. www.eia.gov, 15. www.eia.gov, 16. www.eia.gov, 17. www.eia.gov, 18. www.tradingview.com, 19. www.tradingview.com, 20. www.reuters.com, 21. www.theguardian.com, 22. www.reuters.com, 23. www.reuters.com, 24. www.bairdmaritime.com, 25. www.bairdmaritime.com, 26. www.bairdmaritime.com, 27. www.aga.org, 28. www.tradingview.com, 29. www.reuters.com, 30. www.reuters.com

Silver is extending one of the most dramatic bull runs in modern commodities history, with prices hovering near record territory on Monday, December 22, 2025. Around 1:38 p.m. ET, spot silver (XAG/USD) was trading roughly in the high-$68s per ounce, after pushing to fresh all-time highs earlier in the session. One widely followed retail spot quote showed $68.89/oz at 1:20 p.m. ET, up about 2.1% on the day. ^[1]

The bigger headline: silver has repeatedly printed new records in December and is now riding a powerful mix of rate-cut expectations, a softer U.S. dollar, safe-haven demand tied to geopolitical risk, and a still-tight physical market. Reuters reported spot silver touched a new all-time peak around $69.44/oz on Monday before easing back. ^[2]

Below is what’s moving the silver price today, how analysts are framing the rally, and what the latest forecasts and technical levels suggest for the days ahead.

Silver price today: where XAG/USD is trading and what the market just did

Silver’s intraday action has been volatile but directionally bullish:

• Spot silver near 1:38 p.m. ET: fluctuating in the high-$68s, depending on the data provider and whether you’re viewing spot or CFD-style pricing. Retail spot pricing showed $68.89 at 1:20 p.m. ET. ^[3]
• Earlier record high: Reuters cited a fresh all-time peak near $69.44/oz. ^[4]
• Intraday range: one major pricing page showed a day’s range roughly $67.17 to $69.45, underscoring how fast price discovery is happening at these levels. ^[5]

Silver’s 2025 move is also historically large. Reuters put silver’s year-to-date gain at roughly ~139%, dramatically outpacing gold on a percentage basis. ^[6]

Why silver is surging: the three drivers dominating December 22

1) Rate-cut expectations are back in control

The macro backdrop remains the core engine. Multiple reports describe investors positioning for looser U.S. monetary policy in 2026, a setup that tends to support non-yielding assets like precious metals.

Reuters said expectations of easier policy and a weaker dollar have been central to the late-year precious metals surge, with traders reacting to recent U.S. inflation and labor data that reinforced rate-cut bets. ^[7]

Business Insider similarly tied the record push in gold and silver to renewed market confidence that rates will trend lower into 2026, increasing the appeal of hard assets versus cash and bonds. ^[8]

2) Geopolitical risk is amplifying safe-haven demand

Today’s rally isn’t only macro—it’s also risk hedging. Reuters highlighted rising safe-haven flows as U.S.-Venezuela tensions escalated following President Donald Trump’s announcement of a “blockade” targeting sanctioned oil tankers moving in and out of Venezuela. ^[9]

On top of that, FXStreet framed silver’s jump as part of a broader flight to safety amid renewed tension in the Middle East, noting Israel–Iran headlines as a catalyst during the Asian session. ^[10]

3) Silver’s “dual identity” is attracting both hedgers and growth traders

Silver is behaving like a hybrid: part safe haven, part industrial metal. Reuters has repeatedly emphasized the market’s focus on a persistent supply-demand deficit, while also pointing to investment flows. ^[11]

Business Insider added another layer: silver (along with copper) is being treated as an “AI and electrification” metal because of its role in data infrastructure and electrification, at a time when supply pressures remain a theme. ^[12]

The “record rally” narrative: what today’s reporting is telling investors

A major reason silver’s move is commanding attention is that it’s arriving late in the year—when markets often get thin and profit-taking typically increases.

Reuters quoted analysts observing that investors have not treated the year-end period as a time to step away from the trade, with strong demand pushing prices to records anyway. ^[13]

That said, several analysts are also warning that silver’s volatility cuts both ways. Reuters has flagged the risk of steep corrections even in a structurally bullish market, simply because silver historically moves faster than gold in both directions. ^[14]

Silver vs gold: the gold–silver ratio is flashing “silver strength”

A key metric confirming silver’s outperformance is the gold–silver ratio (how many ounces of silver it takes to buy one ounce of gold).

Reuters reported the ratio has narrowed to roughly 64, down sharply from about 105 in April, reflecting how aggressively silver has caught up—and, recently, outpaced. ^[15]
FXStreet also pegged the ratio near 64.06 on Monday. ^[16]

In plain terms: silver isn’t just rising because gold is rising—silver is rising faster.

Forecasts and outlook: what analysts are projecting next

Forecasts for silver are widening—bulls point to structural deficits and macro tailwinds, while cautious houses warn that the pace of gains looks unsustainable in a straight line.

A notable 2026 forecast: Macquarie’s average price view

In Reuters’ Dec. 22 coverage, Macquarie strategists said drivers behind silver’s recent highs include the persistent deficit and stronger import demand in India during the festive period—and they expect silver to average $57 per ounce in 2026. ^[17]

That forecast matters because it implies meaningful downside from today’s near-$69–$70 neighborhood, even while acknowledging supportive fundamentals.

The “if gold cools, silver cools” camp

CBS News cited Capital Economics projecting gold could fall to $3,500 by the end of next year, arguing that a cooling in gold’s speculative boom would likely spill into silver as well. ^[18]

The “bigger precious-metals cycle” camp

CBS also quoted Global X ETFs’ Trevor Yates describing the latest leg of the rally as being driven by a 2026 outlook featuring lower rates and a potentially softer dollar, adding that the firm remains constructive on both gold and silver (while acknowledging the path won’t be smooth). ^[19]

Bottom line on forecasts today: even among bullish narratives, there’s a growing emphasis on volatility and the risk that silver can overshoot before it mean-reverts.

Technical analysis: key levels traders are watching on Dec. 22

Technical analysts are largely aligned that the trend remains bullish—but momentum indicators are stretched.

FXStreet’s technical forecast described silver as extending a well-established uptrend and printing fresh records around the $69.45 area during the Asian session. It also highlighted that last week’s breakout through $66.40–$66.50 was an important trigger level, while warning that overbought RSI readings argue for caution when chasing breakouts. ^[20]

A separate market write-up echoed that bullish bias, pointing to silver holding above its 100-hour moving average and showing strengthening momentum signals. ^[21]

What this means in practice:

• Bulls are focused on whether silver can hold above former breakout zones on pullbacks.
• Bears (or cautious longs) are watching for signs of exhaustion as overbought conditions persist.

The India angle: local silver prices also hit records

The rally is not just a U.S. dollar story. In India, Times of India reported silver futures surged to a record ₹2,14,534 per kilogram on MCX as the global rally spilled over into domestic markets. ^[22]

This matters because India can be a major swing factor in physical demand—especially during periods of strong seasonal buying.

What to watch next: the catalysts that could move silver from here

Silver is now trading in a zone where headlines can move price quickly, because positioning is heavy and liquidity can be thinner near year-end. The market’s next moves are likely to hinge on:

• Fed path signals for 2026: any shift in how quickly markets expect rate cuts can reprice precious metals. ^[23]
• U.S. dollar direction: Reuters noted the dollar’s weakness has been part of the broader support for bullion. ^[24]
• Geopolitical developments: today’s rally has been tightly linked to elevated geopolitical tension, which tends to boost safe-haven demand. ^[25]
• Physical market tightness and investment flows: persistent deficit narratives and investment buying have been central to silver’s outperformance in 2025. ^[26]

Takeaway: silver is still bullish—but the market is pricing in turbulence

As of early afternoon on December 22, 2025, silver remains near record levels, supported by a powerful combination of macro tailwinds, geopolitical risk hedging, and tightness themes in the physical market. ^[27]

But today’s coverage also makes one point increasingly clear: the higher silver goes, the more the market is bracing for sharp swings—especially with technical signals stretched and forecasts for 2026 diverging widely. ^[28]

References

1. www.bullion.com, 2. www.reuters.com, 3. www.bullion.com, 4. www.reuters.com, 5. www.investing.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.businessinsider.com, 9. www.reuters.com, 10. www.fxstreet.com, 11. www.reuters.com, 12. www.businessinsider.com, 13. www.reuters.com, 14. www.reuters.com, 15. www.reuters.com, 16. www.fxstreet.com, 17. www.reuters.com, 18. www.cbsnews.com, 19. www.cbsnews.com, 20. www.fxstreet.com, 21. uk.investing.com, 22. timesofindia.indiatimes.com, 23. www.reuters.com, 24. www.reuters.com, 25. www.reuters.com, 26. www.reuters.com, 27. www.reuters.com, 28. www.fxstreet.com

At 11:14 GMT, XAUUSD is trading $4408.58, up $69.81 or +1.61%.

Upside Momentum Dominates Gold Market Positioning

Gold’s advance shows conviction rather than late-stage exhaustion. The metal is now up nearly 70% year-to-date, marking its strongest annual performance since 1979. Central bank accumulation, sustained portfolio hedging, and persistent geopolitical risk continue to absorb supply, keeping pauses brief and shallow.

The former resistance at $4381.44 has been decisively cleared. What capped price last week is now accepted above, reinforcing confidence that higher levels are being built on participation, not thin volume spikes.

Gold Buyers Ignore Higher Yields As Conviction Builds

A key signal today is gold’s resilience in the face of rising Treasury yields. The U.S. 10-year yield is ticking higher, yet gold shows no sensitivity. When gold rallies alongside firmer yields, it typically reflects urgency to secure exposure rather than rate-driven positioning, reinforcing the strength of current demand.

This behavior suggests positioning is being driven by capital preservation and risk hedging rather than tactical rate trades.

Rates, Policy Expectations, And Real Asset Demand Support Gold

Expectations for lower U.S. interest rates remain a core tailwind. Federal Reserve Governor Stephen Miran reiterated that easing inflation supports rate cuts to offset labor market risks. Gold continues to benefit from lower real-rate expectations even as nominal yields firm.

Updated: December 22, 2025 — 10:23

Natural gas markets are starting the holiday-shortened week with a familiar tug-of-war: weather forecasts that lean warmer (near term) and sturdy supply are keeping prices contained, while LNG logistics, storage trends, and geopolitics continue to inject volatility into regional benchmarks.

Across the major hubs on Dec. 22, Europe’s TTF has edged lower in thin trade, Asia’s spot LNG is sitting near a 20‑month low, and the U.S. market is again revolving around the “big three” drivers—production, demand forecasts, and LNG feedgas flows. ^[1]

Natural gas price snapshot today: Europe eases, Asia stays soft, the U.S. tracks weather and LNG

Europe: TTF edges lower while storage becomes the headline again

In early Monday trading, Dutch and British wholesale gas prices dipped as ample Norwegian supply and LNG availability counterbalanced expectations for colder weather later across parts of the continent. The Dutch front‑month TTF contract was reported lower around €27.95/MWh (about $9.61/mmBtu) in the morning, with markets quiet ahead of Christmas. ^[2]

A broader price reference also shows TTF around the high‑€27s on the day—consistent with the idea that Europe is entering late December with prices restrained, not tight, even as winter risk remains. ^[3]

Asia: spot LNG at a 20‑month low, buyers remain selective

In Asia, spot LNG continues to feel heavy. Industry pricing cited for February delivery into Northeast Asia put the JKM region around $9.50/mmBtu, down from $10/mmBtu the week prior—marking the lowest level since April 2024. Analysts attribute the softness to muted heating demand, ample Pacific supply, and pipeline gas availability (notably supporting China’s balance), keeping spot buying cautious and price-sensitive. ^[4]

A key detail for traders: multiple assessments highlighted Europe’s LNG pricing versus TTF and pointed to ongoing competition for cargoes as winter deepens—even though Asia is currently the “softer” side of the global LNG equation. ^[5]

United States: fundamentals dominate—output near records, demand forecasts cool, LNG pull remains elevated

In the U.S., market commentary today is dominated by near‑record production, milder weather expectations into early January, and strong feedgas demand from LNG export terminals. One widely circulated market summary (citing LSEG and storage data) describes U.S. Lower‑48 output around 109.6 bcfd and forecasts demand (including exports) falling from roughly 144.6 bcfd this week to about 127.5 bcfd over the next two weeks as warmth trims heating needs. ^[6]

At the same time, LNG remains a stabilizer: feedgas flows to major U.S. LNG terminals have been cited around 18.5 bcfd this month—above November’s record in that same commentary—helping cushion bearish weather shifts. ^[7]

The market’s main driver right now: weather risk is real, but supply is still doing the talking

Weather: warmer near-term, colder risk later

The near-term setup remains broadly milder than normal, reducing the call on gas for space heating in the U.S. and easing immediate price pressure. ^[8]

In Europe, traders are balancing that same “now vs. later” weather dynamic: current fundamentals read bearish, but the market remains alert to risk factors that could flip sentiment quickly—especially if cold snaps arrive while storage is already lower than recent years. ^[9]

Storage: Europe’s buffer is thinner than recent winters, the U.S. looks “comfortable” for now

Europe’s storage is a centerpiece today: the latest figure cited puts EU gas storage at about 67.24% full—a level that’s not alarming on its own, but lower than recent years entering the heart of winter, raising the chance Europe must compete harder for LNG cargoes in January and February if temperatures turn colder. ^[10]

In the U.S., storage data referenced in today’s market write-up showed utilities withdrew 167 bcf for the week ended Dec. 12, leaving inventories around 3,579 bcf—described as slightly above the five‑year average (but below year‑ago levels). ^[11]

The biggest natural gas news on Dec. 22: policy and geopolitics are moving as fast as weather models

1) Australia announces a major east-coast gas reservation scheme for 2027

One of the most consequential natural gas policy headlines today is out of Australia: the government confirmed a plan that will require east‑coast LNG exporters to reserve a minimum share of gas for domestic use, with a proposed range of 15% to 25%, starting in 2027 (and applying to new contracts). ^[12]

The move is designed to reduce the risk of price spikes and help address a forecast supply gap on the east coast—an unusual dynamic for a country that is also one of the world’s largest LNG exporters. Reactions are mixed: manufacturers tend to welcome the prospect of more domestic supply, while exporters warn about investment signals and market intervention. ^[13]

Why it matters globally: Australia is a top-tier LNG supplier into Asia, so any rule that changes how much gas can be exported (even at the margin) is something LNG traders will model into forward balances—especially if winter demand or shipping constraints tighten. ^[14]

2) Russia’s pipeline gas exports to China are rising—but the revenue gap remains

Reuters reporting today says Russia’s pipeline gas exports to China via Power of Siberia are expected up about 25% in 2025, reaching roughly 38.6–38.7 bcm, slightly above the pipeline’s planned annual capacity. ^[15]

But the same reporting underscores a central structural reality: greater flows to China do not fully replace the value (and scale) of the lost European market, and pricing remains a major hurdle for future Russian pipeline ambitions such as Power of Siberia 2. ^[16]

This matters for gas pricing because pipeline flows shape LNG demand indirectly: the more China can secure through pipeline gas at acceptable prices, the more selective it can be in spot LNG markets—one reason Asia’s spot buying has stayed cautious even as winter approaches. ^[17]

3) A tanker loads LNG from a sanctioned Russian terminal—watch the sanctions “workarounds” narrative

Another major headline today: a tanker named Kunpeng loaded LNG from Russia’s Portovaya LNG terminal, which is under Western sanctions, based on ship-tracking data cited by Reuters (Kpler and LSEG). The vessel reportedly arrived Dec. 18 and departed with cargo on Dec. 21—described as the first time this tanker has lifted LNG from a designated project. ^[18]

Market significance: even relatively small sanctioned volumes can matter at the margin in winter—especially in Europe, where LNG is now a core balancing mechanism. The broader issue is whether enforcement tightens, stays stable, or weakens in practice via transfers and “creative” routing. ^[19]

4) U.S. LNG expansion narrative takes a hit: Energy Transfer suspends Lake Charles LNG development

On the corporate side, the U.S. LNG growth story is facing a reality check. Reuters reports that Energy Transfer has suspended development of its Lake Charles LNG export project in Louisiana, citing cost pressures, market conditions, and a preference to focus on pipeline projects. The planned project capacity was reported around 16.45 million tonnes per annum. ^[20]

The company’s own announcement echoed that strategic pivot—suspending development to prioritize a backlog of pipeline investments, while remaining open to discussions with third parties. ^[21]

Why it matters today: LNG markets price long-term capacity expectations years ahead. Any meaningful delay, cancellation, or de‑risking of U.S. export growth can tighten future balances—especially if demand surprises higher (AI-driven power demand, industrial recovery, or faster coal-to-gas switching). ^[22]

Forecasts and forward-looking analysis: what’s next for natural gas after Dec. 22?

Near-term (days to weeks): Europe’s LNG pull vs. weather, U.S. demand downgrades vs. export strength

Europe’s setup is straightforward but unstable: prices are currently subdued by supply, yet storage is lower than recent winters and the market is explicitly watching whether colder weather in early 2026 forces incremental LNG procurement. ^[23]

In the U.S., the next big directional catalyst remains weather model shifts. The current posture—warmer near-term, lower demand projections—keeps the market sensitive to any change that turns the outlook colder, because production is high but LNG demand has also been running strong. ^[24]

Medium-term (2026–2027): banks see a price path that encourages supply growth—and more demand

One notable forward view comes from Goldman Sachs (reported by Reuters): the bank forecasts European TTF averaging roughly €29/MWh in 2026 and €20/MWh in 2027, while expecting U.S. gas prices that “incentivize” production growth at around $4.60/mmBtu in 2026 and $3.80/mmBtu in 2027. ^[25]

That framing is important: the market is effectively searching for a level that keeps enough supply coming (especially from the U.S.) without crushing demand—an equilibrium that is increasingly shaped by LNG export capacity decisions, like the Lake Charles pause, and by policy choices, like Australia’s domestic reservation plan. ^[26]

What to watch after 10:23 today: the “four screens” gas traders will keep open

1. Weather revisions (U.S., Europe, Northeast Asia): small shifts can cascade into big demand changes in winter. ^[27]
2. LNG flows and freight: Atlantic and Pacific shipping rates, arbitrage signals, and whether Europe keeps pulling U.S. cargoes. ^[28]
3. Storage trajectories: Europe’s storage percentage and the U.S. storage cadence as winter progresses. ^[29]
4. Geopolitics and policy: Russian flows to China, sanctioned cargo movements, and Australia’s reservation scheme implementation details. ^[30]

Bottom line for natural gas today

As of Dec. 22, 2025 (10:23), the natural gas story is not a single narrative—it’s a set of interlocking ones:

• Europe is calm on the surface (prices easing) but increasingly dependent on LNG as storage trends matter more. ^[31]
• Asia is soft enough to keep spot LNG near multi‑month lows, with buyers disciplined and waiting for cheaper levels or clearer cold signals. ^[32]
• The U.S. is still the swing supplier, with production near record levels and LNG exports acting as the shock absorber against mild weather. ^[33]
• Policy and geopolitics—from Australia’s domestic reservation plan to Russian pipeline and sanctioned LNG headlines—are reintroducing structural uncertainty into what would otherwise be a weather-driven market. ^[34]

References

1. www.tradingview.com, 2. www.tradingview.com, 3. tradingeconomics.com, 4. www.hellenicshippingnews.com, 5. www.hellenicshippingnews.com, 6. in.investing.com, 7. in.investing.com, 8. in.investing.com, 9. www.tradingview.com, 10. www.tradingview.com, 11. in.investing.com, 12. minister.dcceew.gov.au, 13. www.theguardian.com, 14. www.reuters.com, 15. www.reuters.com, 16. www.reuters.com, 17. www.reuters.com, 18. www.reuters.com, 19. www.reuters.com, 20. www.reuters.com, 21. www.businesswire.com, 22. www.reuters.com, 23. www.tradingview.com, 24. in.investing.com, 25. www.reuters.com, 26. www.reuters.com, 27. in.investing.com, 28. www.hellenicshippingnews.com, 29. www.tradingview.com, 30. www.reuters.com, 31. www.tradingview.com, 32. www.hellenicshippingnews.com, 33. in.investing.com, 34. minister.dcceew.gov.au

Robinhood Markets (HOOD) rose in its latest intraday trading, as the stock attempts to relieve part of its clear oversold condition on the RSI indicators, especially with the emergence of positive signals. However, negative pressure remains in place due to trading below its previous 50-day SMA, which reinforces the stability and dominance of the short-term descending corrective trend, particularly with price action moving alongside a supporting trendline.

High-risk warning: HOOD belongs to a group of stocks commonly known as “meme stocks,” which are characterized by heavy speculative activity. As a result, the stock’s price movement often deviates from technical expectations or fundamental analysis, and can at times be sudden and unpredictable.

Therefore we expect the stock to decline in its upcoming trading, especially as long as it remains below the resistance level at $125.60, targeting the pivotal support level at $102.10.

Today’s price forecast: Bearish

Gold is back in focus as price hold near record territory. On December 22, 2025, XAU/USD was trading close to $4,350, a level that would have sounded unrealistic just a few years ago. Yet today, it feels almost normal. Global investors are no longer asking if gold belongs in portfolios. They are asking how much exposure makes sense.

Several forces are shaping this moment. Interest rate expectations are shifting. Inflation fears have not fully faded. Central banks are still buying gold at a steady pace. At the same time, long-term forecasts are turning bolder. Some analysts now see a path toward $5,000 gold by 2026.

This price action is not driven by panic. It reflects deeper changes in how gold is viewed. Not just as a hedge. But as a strategic asset. The current consolidation near $4,350 shows caution, not weakness. Markets are pausing. Watching data. Waiting for the next trigger. And gold is quietly holding its ground.

Gold Price Today: Why XAU/USD Is Stuck Near $4,350?

As of December 22, 2025, gold hit a record high above $4,383 per ounce, and briefly pushed past $4,400, driven by hopes for more U.S. interest rate cuts and strong demand for safe assets like bullion.

Gold has climbed sharply this year. Prices are up about 67% in 2025, making this one of the strongest annual gains in decades.Even at levels near $4,350, buyers remain active. This shows the market is waiting for strong signals before moving higher. A weaker U.S. dollar and expectations that the Federal Reserve will cut rates next year are adding to the pressure.

Instead of falling back, gold keeps finding support at these high prices. Traders see this as a sign that demand is real, not just short-term speculation. More data will soon show whether this trend continues into 2026 or cools off after a huge rally.

What Changed in the Gold Narrative in 2025-26?

Gold’s role in markets has changed dramatically over the past year. In early 2025, the rally began on safe-haven flows. Now, broad macro trends are backing price strength. This includes investor demand, central bank buying, and fears linked to global instability.

Unlike past cycles where gold only moved during crises, the current environment shows structural drivers pushing prices higher. Central banks have been big buyers of gold for years, and they continue to add reserves. This demand adds a firm base under prices.

Economic uncertainty, persistent inflation fears, and ongoing geopolitical risks have made gold a core part of many portfolios. This has turned gold from a trading asset into a strategic hedge for 2025 and beyond.

The $5,000 Gold Price Forecast for 2026

Several major financial institutions now see gold rising toward or above $5,000 per ounce by 2026. Reports show that banks like Bank of America and Société Générale have forecasts in this range.

JP Morgan has forecast that gold could average over $5,000 per ounce by the fourth quarter of 2026, citing strong investor interest and central bank buying. Goldman Sachs projects a target near $4,900 by the end of 2026, backed by heavy official gold purchases.

These forecasts are not random guesses. They are based on models that assume continued demand, declining real yields, and broader geopolitical and economic risks remaining elevated. A path toward $5,000 is seen by some analysts as the natural next step if current trends persist.

Federal Reserve Policy: The Quiet Driver Behind Gold’s Next Move

Gold prices are highly sensitive to U.S. monetary policy expectations. When traders expect the Federal Reserve to cut interest rates, gold usually rises. This is because lower rates reduce the opportunity cost of holding non-yielding assets like gold.

In late 2025, markets priced in multiple rate-cut expectations for 2026. This has weakened the U.S. dollar and boosted gold. Even if rate cuts are gradual, a shift toward easier policy tends to support gold prices. The market is now watching incoming economic data closely for stronger clues on the Fed’s next moves.

Central Bank Gold Buying: The Underrated Bullish Factor

Central banks around the world have been buying gold at a fast pace in recent years. This steady demand is not driven by short-term traders. It is structural. Countries diversify reserves to reduce reliance on the U.S. dollar, and gold becomes a key part of that strategy.

The pace of official gold purchases has stayed high through 2025, and projections suggest this trend will continue into 2026. Many banks now see this steady demand as a significant factor in pushing gold prices higher.

Inflation, Debt, and Geopolitics: The Triple Threat Supporting Gold

Three broad pressures are reinforcing gold’s appeal. First, inflation remains a concern globally, even as some inflation measures soften. Second, high public debt levels in major economies create uncertainty about future policy responses. Third, geopolitical risks continue to drive safe-haven buying.

When these pressures exist together, investors tend to seek assets that protect purchasing power and offer stability. Gold fits both roles. This mix of forces helps explain why prices are not falling back despite already high levels.

Gold Price Technical Outlook: Watch Key Levels

Technically, gold has been trading in a high range near $4,350. Analysts watch key support and resistance levels to judge whether the trend will extend or stall. Recent trading has shown gold holding above major support zones, signaling that buyers are active even after a big rally.

Short-term indicators show possible minor pullbacks, but the broader trend remains constructive unless critical levels break to the downside. Trading near these high levels is part of a normal consolidation after strong gains.

Is Gold Overvalued at $4,350? What the Data Says

Simply calling gold “overvalued” at these levels misses the bigger picture. When adjusted for inflation and other factors, gold’s purchasing power remains strong. Historic comparisons show that current prices reflect long-term structural shifts rather than just short-term bubbles.

Even if price moves slow for a period, the fundamental drivers suggest that higher levels could still be justified over time.

What Could Break the $5,000 Gold Thesis?

Several risks could slow gold’s rise. A stronger-than-expected U.S. economy might delay rate cuts, boosting the dollar and pressuring gold. Geopolitical risks could ease, reducing safe-haven demand. Or central banks could slow their buying pace if prices rise too fast.

These risks do not make gold bearish. They simply show that the path to potential $5,000 levels is not guaranteed and depends on how key macro factors evolve.

Gold Outlook for Investors Heading Into 2026

Looking ahead, gold remains an important asset for diversification. Short-term moves may be volatile, but the broader trend shows strong support. Expert forecasts vary, but many see room for further gains. Central bank demand, monetary policy shifts, and ongoing uncertainty all feed into this outlook.

Even if gold does not hit exactly $5,000 in 2026, the trend toward higher ranges suggests it will remain a key part of global markets in the near future. 

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Disclaimer

The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.