NEW YORK, Dec. 28, 2025, 12:36 p.m. ET — Market closed

Natural gas stocks are heading into Monday’s U.S. trading session with a familiar winter setup: a fast-changing weather outlook colliding with record-high production, strong LNG feedgas demand, and a key U.S. government storage report that’s been pushed into the start of the week.

While the U.S. stock market is shut for the weekend, the natural gas trade rarely stays quiet for long. Traders and investors are positioning around three near-term swing factors: (1) whether colder early-January forecasts stick, (2) whether LNG export demand remains near recent records, and (3) what the delayed Energy Information Administration (EIA) storage data says about the pace of withdrawals after December’s volatility.

The latest: Henry Hub ended the week higher as colder forecasts re-enter the conversation

In the most recent session referenced in market reporting, U.S. natural gas futures rose in thin holiday-week trading and finished the week with a gain, snapping a losing streak as forecasts pointed to colder weather and higher demand in the weeks ahead. The front-month contract was reported at $4.366 per MMBtu and up 9.6% on the week, helped by expectations for a cooler turn into early January. ^[1]

Energy Ventures Analysis President Robert DiDona said holiday liquidity can amplify price moves, but emphasized that the “real storyline” was the colder weather models—especially for the eastern U.S. ^[2]

For natural gas equities, that matters because the group’s day-to-day direction often tracks the Henry Hub narrative, particularly for upstream gas producers (cash-flow sensitivity), and for midstream and LNG names (volume, spreads, and export economics).

But supply remains the counterweight: record output and strong LNG flows

Even as weather can swing sentiment, supply has been stubbornly high. The same reporting cited record-average Lower 48 output around 109.8 Bcf/d in December, alongside LNG feedgas flows around 18.4 Bcf/d so far this month, near record territory. ^[3]

That combination—high production plus high export demand—is critical for stock pickers:

• Upstream producers can benefit quickly when price rises outpace cost inflation, but they’re still exposed to the risk that production stays too strong for too long.
• LNG-linked names tend to benefit when utilization is high and outages are limited; the market also watches terminal reliability as a driver of U.S. demand.
• Pipelines and midstream operators often behave more defensively, but their longer-term upside increasingly ties to infrastructure that can move associated gas from places like the Permian to the Gulf Coast.

On the LNG operations front, Freeport LNG confirmed earlier that its trains had resumed after a feedgas disruption—an example of the kind of operational headline that can ripple through both commodity prices and LNG-adjacent equities. ^[4]

The next catalyst: EIA storage data lands Monday at noon

For Monday’s session, the biggest scheduled macro catalyst for U.S. natural gas pricing is the EIA Weekly Natural Gas Storage Report—and the timing matters this week.

Due to the holiday schedule, the EIA shows the Christmas-delayed storage report will be released Monday, Dec. 29, 2025 at 12:00 p.m. ET. The New Year’s Day-delayed report is scheduled for Wednesday, Dec. 31, 2025 at 12:00 p.m. ET. ^[5]

That “back-to-back” cadence can compress reaction windows and potentially make early-week trading more headline-driven than usual—especially if weather models shift at the same time.

Where inventories stood most recently (and why Monday’s report is so watched)

The EIA’s most recently summarized weekly fundamentals underscored how quickly winter can tighten balances. For the week ending Dec. 12, the EIA reported net withdrawals of 167 Bcf, with working gas stocks at 3,579 Bcf—about 1% above the five-year average but 2% below the year-ago level. ^[6]

That matters for natural gas stocks because storage “surprises” (withdrawals bigger or smaller than expected) can quickly reprice the curve—often lifting or punishing producer equities first, then rippling through LNG and midstream based on what the move implies for demand and infrastructure utilization.

What the big-picture forecasts say for 2026

Beyond Monday’s near-term catalysts, investors are weighing whether the current winter strength is a short-lived weather premium or the start of a higher-price regime.

In its December Short-Term Energy Outlook, the EIA said it expects the Henry Hub spot price to average around $4.30/MMBtu during the winter heating season (Nov–Mar), and that milder weather in early 2026 and rising production should help moderate prices, with the Henry Hub price averaging about $4.00/MMBtu next year. ^[7]

The same outlook projects:

• U.S. dry natural gas production averaging about 109 Bcf/d in 2026 (up from 2025), and
• U.S. LNG exports rising from 14.9 Bcf/d in 2025 to 16.3 Bcf/d in 2026. ^[8]

For natural gas stocks, that forecast mix is important: higher production can cap upside unless demand grows fast enough (exports, power burn, industrial), but persistent LNG growth supports long-run volume and infrastructure buildout.

Infrastructure and the “Permian-to-Gulf” theme: a key tailwind for midstream

A fresh industry analysis circulating over the weekend spotlighted why pipeline capacity—not just commodity price—has become a central investment variable in the natural gas complex.

An Enverus Intelligence Research outlook highlighted the Permian Basin’s role in meeting rising LNG demand, projecting U.S. LNG feedgas demand could rise to 33 Bcf/d by 2030, with potential to approach 50 Bcf/d if expansions move forward, and pointing to substantial additional pipeline capacity aimed at moving gas toward Gulf Coast markets. ^[9]

Enverus director Alex Ljubojevic flagged that infrastructure may be sufficient to supply incremental LNG feedgas through 2030, but said the longer-term challenge is ensuring durable supply for additional expansions. ^[10]

Enverus analyst Josephine Mills added that the Permian’s inventory depth differs from maturing dry-gas plays, and expects Permian natural gas production to keep growing modestly over a multi-decade horizon. ^[11]

For equity investors, that strengthens the case that some pipeline and midstream businesses may be positioned to benefit from the long-run export buildout even if spot gas prices remain volatile.

The longer-term risk debate: will an LNG glut hit valuations?

Not all the recent analysis is bullish.

A Reuters Breakingviews commentary warned that rapid renewable deployment and falling battery costs could undermine long-term LNG demand growth, raising the risk that aggressive capacity additions create an oversupply “sinkhole” by 2030. The piece cited industry voices—including TotalEnergies CEO Patrick Pouyanné—who have cautioned the sector may be “building too much,” and also referenced cost and delivery bottlenecks for gas turbines that could delay gas-fired power buildouts in parts of Asia. ^[12]

This is a key valuation question for LNG-export-linked equities and long-duration LNG project developers: even if near-term utilization is strong, the market increasingly discounts what it sees as “peak LNG exuberance” risk.

What investors should know before the next session

With U.S. equities reopening Monday, natural gas stock investors will likely be watching a tight cluster of catalysts that can drive outsized moves—especially after a holiday week where liquidity can be thinner.

Key items to monitor heading into Monday (Dec. 29):

1. The EIA storage report at 12:00 p.m. ET (delayed for the holiday) — the market will react to the withdrawal size versus expectations and what it implies for end-of-winter inventories. ^[13]
2. Early-January weather model updates — the recent price rebound was explicitly tied to colder outlooks into early January; a warmer flip can unwind gains quickly, while sustained cold can keep the bid under gas prices. ^[14]
3. LNG feedgas and terminal operations — flows near record levels have become a major support pillar; outages or resumptions can move the commodity and LNG-adjacent stocks. ^[15]
4. Production trajectory — record output has been the core bearish counterargument; if supply stays elevated, rallies can stall unless demand accelerates. ^[16]
5. The midweek follow-up storage print (Wednesday at noon ET) — two storage reports in one week can keep volatility elevated and shorten the “memory” of Monday’s data. ^[17]

Bottom line

Natural gas stocks enter the new week with momentum coming off a weather-driven rebound in futures, but with fundamentals still pulling in opposite directions: colder forecasts and strong LNG demand on one side, record production and ongoing longer-term LNG oversupply concerns on the other. ^[18]

For investors, Monday’s delayed EIA storage report—and the way the market interprets it alongside shifting January weather models—could set the tone not only for the first regular session after the weekend, but for how the natural gas equity complex trades into year-end. ^[19]

References

1. www.brecorder.com, 2. www.brecorder.com, 3. www.brecorder.com, 4. www.brecorder.com, 5. ir.eia.gov, 6. www.eia.gov, 7. www.eia.gov, 8. www.eia.gov, 9. www.mrt.com, 10. www.mrt.com, 11. www.mrt.com, 12. www.reuters.com, 13. ir.eia.gov, 14. www.brecorder.com, 15. www.brecorder.com, 16. www.brecorder.com, 17. ir.eia.gov, 18. www.brecorder.com, 19. ir.eia.gov

NEW YORK, Dec. 27, 2025, 12:14 p.m. ET — Market closed

Natural gas is heading into the final trading days of 2025 with a familiar winter driver back in control: weather. After sliding for two straight weeks, U.S. natural gas futures steadied and turned higher on Friday as forecasters dialed up colder risks into early January—an outlook that could tighten near-term balances even as Lower 48 production remains at record territory and LNG export demand stays historically strong. ^[1]

For investors, the key question into Monday’s open isn’t just whether “it gets colder.” It’s whether the latest weather models, LNG terminal operations, and storage expectations align in a way that forces the market to reprice quickly in thin year-end liquidity—especially with a rescheduled federal storage report due during regular U.S. trading hours. ^[2]

Where U.S. natural gas prices stand heading into Monday

Front-month NYMEX natural gas (January) was trading around $4.29 per million British thermal units (mmBtu) on Friday, up about 1% on the session and on track for a weekly gain that would snap a two-week losing streak. ^[3]

Holiday conditions mattered too. “There’s going to be thinner volume on the holiday week,” Robert DiDona, president of Energy Ventures Analysis, said, arguing that lighter participation can make prices more sensitive to shifting fundamentals—especially weather. ^[4]

The setup into early January looks constructive on paper: meteorologists were projecting a nationwide temperature step-down through roughly Jan. 10, with U.S. Heating Degree Days (HDDs) rising in recent forecasts—still below normal in the two-week view, but trending colder versus earlier model runs. ^[5]

Weather is the catalyst, but supply is the ceiling

The most immediate bullish lever is demand. LSEG projections cited in market coverage showed average Lower 48 demand (including exports) rising from about 136.1 billion cubic feet per day (bcfd) this week to about 138.5 bcfd over the next two weeks, reflecting stronger heating needs. ^[6]

At the same time, the market is still dealing with a supply backdrop that can blunt rallies. LSEG also pegged December Lower 48 output at record levels—around 109.8 bcfd—topping November’s prior record. ^[7]

That tug-of-war—cold-driven demand versus record production—helps explain why natural gas has been volatile rather than trending cleanly in one direction. Investors should expect that dynamic to continue into January, with each major weather update effectively testing how tight balances really are.

LNG exports remain the wild card, and Freeport is back in focus

LNG has become one of the most important swing factors for U.S. natural gas pricing, and the market received fresh reminders this week that operational hiccups can quickly move sentiment.

In a Reuters-reported regulatory update carried by BOE Report, Freeport LNG said all three trains at its Texas export facility experienced a trip due to an interruption of feed gas. The filing said operators managed cooldowns and restarts “to minimize flaring.” ^[8]

Why does that matter? Freeport’s three trains are capable of turning roughly 2.4 bcfd of natural gas into LNG—enough scale that disruptions can ripple into U.S. balances and sometimes global benchmarks. ^[9]

By the end of the week, however, Freeport indicated that operations had resumed across all three trains after the temporary trip, easing fears of an extended outage. ^[10]

More broadly, average gas flows to the eight large U.S. LNG export plants were running around 18.4 bcfd so far this month—near record territory and up from a record monthly average in November, according to the same market snapshot. ^[11]

For investors, the takeaway is straightforward: as long as LNG feedgas stays near these highs, the U.S. market can tighten quickly when cold weather arrives—yet brief outages can produce sudden, sharp swings in either direction.

Global backdrop: sanctions, supply delays, and the long LNG cycle

The near-term U.S. price story is weather and LNG operations. The longer-term story is what global LNG supply and demand will look like by the end of the decade—because that trajectory increasingly shapes capital spending, pipeline buildouts, and the valuation story for gas-linked equities.

One major signal in the last 48 hours came from Russia. Deputy Prime Minister Alexander Novak said Russia has pushed back “by several years” its plan to reach an annual LNG output target of 100 million tons, citing the impact of Western sanctions. An updated government strategy sees Russia producing 90–105 million tons by 2030 and 110–130 million tons by 2036, Reuters reported. ^[12]

The global competitive set matters for U.S. investors because U.S. LNG is priced off Henry Hub plus liquefaction and shipping—meaning international supply constraints, policy shifts, and competing volumes can change how “pull” from overseas markets translates into U.S. demand.

Permian pipelines and the next LNG wave: Enverus lays out the bottlenecks

While daily weather drives the screen price, infrastructure is shaping the next decade of U.S. natural gas demand—and that includes the pipeline network needed to move gas from production basins to the Gulf Coast.

A newly highlighted Enverus Intelligence Research (EIR) analysis projects U.S. LNG feedgas demand rising to 33 bcfd by 2030, with potential to approach 50 bcfd by 2035 if planned expansions move forward. To support that, the research points to about 9.0 bcfd of new Permian pipeline capacity to the Gulf Coast, plus more than 12 bcfd of additional coastal pipeline capacity dedicated to LNG supply. ^[13]

“While there is ample pipeline capacity from the Permian Basin and along the Gulf Coast to supply incremental LNG feedgas to 2030,” EIR director Alex Ljubojevic said, “the challenge lies in ensuring long-term natural gas supply for additional LNG expansion.” ^[14]

Reporting on the analysis also flagged a potential long-run supply gap: EIR expects the Haynesville to peak around 19 bcfd in 2033 before declining, while Permian dry gas output could climb toward ~40 bcfd by 2050—yet infrastructure and resource development would still be needed to close a projected 2–8 bcfd gap by 2035. ^[15]

The counterpoint: renewables could change LNG’s long-run math

Not everyone believes LNG demand growth will remain as durable as today’s project pipeline implies.

In a Reuters Breakingviews column published Friday, analysts argued that rapid advances in solar, wind, and batteries could turn an expected LNG glut into an even deeper oversupply problem. The piece cited industry warnings about overbuilding, including TotalEnergies CEO Patrick Pouyanné saying the sector is “building too much,” and commentary from LNG executives about market exuberance. ^[16]

For investors, this debate matters because it could determine which gas-focused companies are rewarded for expanding—and which are penalized for pursuing long-cycle projects that arrive into weaker-than-expected demand.

Stock market context: year-end trading, light volume, and why gas can still move

U.S. equity markets are closed today, but the broader tone into the final week of 2025 is one of muted conviction and thinner participation—conditions that can amplify moves in commodities and energy-linked names once markets reopen.

On Friday, Wall Street ended a light-volume post-Christmas session nearly unchanged, with all three major indexes slightly lower but near all-time highs, Reuters reported—an environment consistent with late-December positioning and “Santa Claus rally” narratives. ^[17]

Natural gas often trades to its own rhythm, but thin liquidity and year-end positioning can still influence volatility across related equities (producers, midstream, utilities, LNG exporters) when headline catalysts hit.

What investors should know before the next U.S. session

With the market closed now, here are the key catalysts and risk points that could shape Monday’s open and the week ahead:

1) Weather model updates can reprice the strip quickly

The market is leaning heavily on forecasts calling for colder conditions into early January. Any material warming or further cooling in high-population regions (especially the eastern half of the U.S.) can shift demand expectations fast—and in year-end liquidity, those shifts can be exaggerated. ^[18]

2) A rescheduled EIA storage report hits during regular hours Monday

The most important scheduled data point is the U.S. government’s Weekly Natural Gas Storage Report, which is on a holiday-adjusted schedule.

The last reported EIA figure showed working gas in storage at 3,579 Bcf for the week ending Dec. 12—down 167 Bcf from the prior week and still within the five-year range. ^[19]

The release schedule shows the next storage report is set for Monday, Dec. 29 at 12:00 p.m. ET (holiday adjustment). That timing places it squarely in the middle of the regular U.S. equity and futures session, when liquidity is typically deeper—and when the market can react immediately. ^[20]

3) LNG feedgas and Freeport operations remain a volatility trigger

Freeport’s trip and restart underscores how sensitive U.S. balances are to LNG export operations. With monthly LNG feedgas still running near record levels in the broader system, any unplanned downtime—or confirmation that facilities are running cleanly—can shift the near-term supply-demand picture. ^[21]

4) Positioning: speculators have been adjusting exposure

CFTC data cited in market coverage showed speculators reduced net long positions across major U.S. natural gas markets in the week ending Dec. 16. That kind of positioning shift can matter into headline-heavy periods because it influences how much “dry powder” exists on either side of the trade. ^[22]

Bottom line

Natural gas is heading into the next session with bullish near-term momentum driven by colder forecasts and persistently strong LNG export pull—yet the rally is still navigating record production and the potential for sharp swings tied to LNG terminal operations and storage data.

For Monday, the market’s focal points are clear: weather updates into early January, operational stability at major LNG facilities (with Freeport back in the spotlight), and a holiday-shifted EIA storage report landing mid-session. ^[23]

References

1. www.worldenergynews.com, 2. www.worldenergynews.com, 3. www.worldenergynews.com, 4. www.worldenergynews.com, 5. www.worldenergynews.com, 6. www.worldenergynews.com, 7. www.worldenergynews.com, 8. boereport.com, 9. boereport.com, 10. www.worldenergynews.com, 11. www.worldenergynews.com, 12. www.reuters.com, 13. www.enverus.com, 14. www.enverus.com, 15. www.enverus.com, 16. www.reuters.com, 17. www.reuters.com, 18. www.worldenergynews.com, 19. ir.eia.gov, 20. ir.eia.gov, 21. www.worldenergynews.com, 22. www.worldenergynews.com, 23. www.worldenergynews.com

Momentum Slows Near Key Extension Level

Despite new record highs, a slowdown in momentum is indicated by the three narrow range days at the top of the trend. Friday’s advance broke above a 127.2% extension target at $4,516. That was a potential resistance zone, but it only stalled the ascent by a couple of days. A 161.8% measured move projection (AB = 161.8% of price change in initial AB leg) is next in line at $4,578 as a possible upside target. However, given a breakout above the 127.2% extension, the 161.8% extension of the October bearish correction becomes a potential target at $4,687. That level is bounded by a 350% measured move projection at $4,664 below, and a 423.6% extension at $4,713, which is from the long-term correction that followed the 2011 peak of $1,921.

Confluence Zone Acts as Upside Magnet

This $4,664 to $4,713 price range is highlighted since the range includes two long-term indicators and the three price levels are relatively close together. It is the confluence of indicators pointing to a similar price zone that seems to sometimes act like a magnet for price. Strength indicated by this week’s new high breakout will confirm with a strong weekly close today. Moreover, the price of gold is following through to new highs on the second breakout above a rising trend channel. The channel shows symmetry in the uptrend. A sustained advance above the top of the channel shows a new leg higher at elevated momentum. If sustained, it could be the early part of a possible blow of phase where momentum could spike.

Pullbacks Highlighted as Key Decision Zones

Nevertheless, the bullish indications are sure to be noticed by investors and draw attention to pullbacks that can be watched for setups to enter the trend. The recent new high breakout level at $4,381 and the 10-day average, also at $4,381 but rising, present the first more significant potential decision zone.

For a look at all of today’s economic events, check out our economic calendar.

Massive Rally Since November Low

Since bottoming at $48.64 on November 21, XAGUSD has rallied more than $28.67. Given the current fire power, it looks as if speculators want to challenge the 2026 target of $100 or better, well ahead of schedule.

Other interesting facts to note, since that November 21 bottom, the market has had only five losing sessions out 24. The nearest support is the swing chart 50% level at $69.50. And the market is currently $21.96 above the 50-day moving average at $55.35.

Technical Conditions Override Overbought Signals

This is real price action, not amateur RSI data that has been flashing overbought for days, perhaps spooking weak shorts out of the market and putting enough fear into new buyers to keep them on the sidelines.

Dip-Buying Behavior Has Shifted

We’ve heard for months that traders are coming in on the “dips”, this hasn’t been the case since December 12, when the market pulled back $3.87. That was a one-day swing too. Today’s price action suggests we’re seeking this level of volatility on an hourly basis now.

Traders Cite Rate Cuts and Geopolitics, but Supply Deficit Remains Key

Traders are saying the anticipation of more rate cuts by the Fed in 2026 and geopolitical risks are driving the current volatility. That’s fine for the short-run. Long-term, it’s the anticipation of a supply deficit and the listing of silver on the government’s list of critical minerals that’s going the major lifting.

Why This Rally Differs From the Late-1970s Silver Spike

But can it last? I think so. This rally is a lot different than the one I witnessed in the late 70’s. That was fueled by the Hunt Brothers trying to corner the market. It came to a screeching halt when COMEX ordered fully-priced margins. This rally is more structured and there are more players, who can afford the volatile price swings.

Updated: 26.12.2025 | 10:14 a.m. EST

U.S. natural gas is ending the week with a familiar winter push-and-pull: colder early‑January forecasts and strong LNG demand on one side, near‑record production and still‑healthy storage on the other.

In holiday-thinned trade on Friday morning, NYMEX Henry Hub natural gas (January 2026) hovered around the mid‑$4.30s per MMBtu, extending a rebound that traders are tying to colder model runs and steady export pulls. Barchart showed NGF26 near $4.342/MMBtu mid‑morning, while market reporting also pegged the contract around $4.29/MMBtu earlier in the session. ^[1]

Below is what’s moving natural gas today (26.12.2025) across news, forecasts, and market analysis, including the next big catalysts traders are watching into year-end.

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Natural gas price today: where Henry Hub is trading and why volume matters

With many participants out for the holidays, liquidity is thinner than usual—and that can exaggerate moves in either direction.

• NYMEX Jan ’26 (NGF26) was quoted around $4.342/MMBtu in mid‑morning pricing (up on the session). ^[2]
• Separate market reporting described thin-volume trading and highlighted the contract near $4.29/MMBtu, also pointing to a weekly gain after a recent slide. ^[3]

This is also a notable moment on the calendar: Barchart lists expiration timing for NGF26 approaching at the end of December, which tends to accelerate position‑rolling and can add noise to day-to-day price action. ^[4]

Bottom line: Friday’s tape is being shaped not only by fundamentals, but also by holiday liquidity and the late‑month contract transition—a mix that often increases volatility.

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Weather forecast: the “colder shift” that bulls are betting on

The central driver in U.S. winter gas is still the same metric traders watch every day: heating demand.

Market reporting on Friday tied the bounce to forecasts pointing to colder conditions and higher demand into early January, particularly across the eastern half of the U.S. ^[5]

One way to translate that into market language is with Heating Degree Days (HDDs), a key proxy for heating demand:

• Forecasts cited in Friday market coverage showed HDDs rising from 377 to 398, while still below the normal level of 449—suggesting a trend toward more heating demand, but not yet a “deep-freeze” setup. ^[6]

This nuance matters. Natural gas can rally sharply on model runs that “turn colder,” but if temperatures remain below-normal vs. normal on the HDD scale, upside can be capped—especially with production running hot.

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Supply stays heavy: near-record Lower 48 production keeps pressure on the upside

If weather is the spark, production is the wet blanket.

Friday’s reporting cited Lower 48 output at a record-high pace in December, around 109.8 bcfd, topping November’s record. ^[7] That level of supply matters because it reduces how quickly cold weather can tighten the market—unless demand spikes hard.

EIA’s latest Short‑Term Energy Outlook (released December 9) also frames the same story for 2026: rising production is expected to help moderate prices after winter, with U.S. dry gas output forecast around 109 Bcf/d in 2026. ^[8]

Translation: Even if early January turns colder, the market’s immediate question becomes: Is it cold enough to overwhelm record supply and strong LNG pulls?

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LNG exports: feedgas demand remains a key bull argument

LNG is a structural pillar under U.S. natural gas demand—and it has been especially important this year.

Friday market reporting said gas flows to the eight large U.S. LNG export plants averaged about 18.4 bcfd so far this month, near record territory. ^[9]

There’s also a plant‑specific note that traders watch because it can swing feedgas quickly:

• Freeport LNG confirmed that all three liquefaction trains at its Texas facility had resumed operations after a temporary disruption. ^[10]

From a macro perspective, EIA’s December STEO points to LNG exports staying elevated longer-term, projecting U.S. LNG exports at 14.9 Bcf/d in 2025 and 16.3 Bcf/d in 2026. ^[11]

And while U.S. LNG remains globally significant, Reuters data-driven analysis notes that Asia’s LNG imports from the U.S. fell in 2025 versus 2024, highlighting how trade policy and shifting demand patterns can influence where U.S. cargoes ultimately land. ^[12]

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Storage and the next big catalyst: EIA’s delayed report is due Monday (Dec 29)

For U.S. natural gas, weekly storage is the scoreboard—and the schedule matters this week.

The release date change

EIA’s official schedule shows the Weekly Natural Gas Storage Report was shifted to Monday, December 29, 2025 at 12:00 p.m. ET due to the Christmas holiday, with another holiday adjustment set for Wednesday, December 31 at 12:00 p.m. ET. ^[13]

Barchart also referenced the same holiday shift, underscoring how widely traders are focused on the Monday release. ^[14]

Where storage stands in the latest EIA weekly update

EIA’s Natural Gas Weekly Update (release date December 18, covering the week ending December 17) reported:

• Net withdrawals of 167 Bcf for the week ending December 12
• Working gas in storage: 3,579 Bcf
• Storage 1% above the five-year average and 2% below last year at that point ^[15]

EIA’s winter draw outlook (forecast)

In the December STEO, EIA outlined why its winter price forecast moved higher: it assumed December would be colder than previously modeled and projected heavier withdrawals—expecting 580 Bcf of inventory withdrawals in December, notably above the five‑year average for the month. ^[16]

Why this matters for Monday: If the next storage figure shows a draw that surprises to the upside (bigger withdrawal), it can validate the “colder + tight balance” narrative. A softer draw would strengthen the argument that record production and comfortable inventories can absorb winter demand.

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Rig count: drilling signals remain mixed, and it’s not just about “more rigs”

Supply isn’t only a function of the weather—it’s also a function of how aggressively producers drill.

The most recent Baker Hughes data (reported by Reuters) showed:

• Total U.S. rigs: 545
• Oil rigs: 409
• Gas rigs: 127 ^[17]

That headline number alone doesn’t guarantee higher output (productivity and associated gas matter), but it supports the broader theme seen across multiple sources: the U.S. system has been producing at exceptionally high levels—even as the market tries to price winter risk.

EIA’s STEO also noted that updated assumptions about gas-to-oil ratios (GORs), especially in the Permian, contributed to a higher production outlook. ^[18]

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Global gas snapshot: Asia LNG is cheap, Europe is watching Q1 flows

U.S. natural gas is increasingly tied to global gas pricing—because global prices help determine how “sticky” U.S. LNG demand will be.

Asia spot LNG (JKM-linked) and China demand

A Reuters global LNG market update (published Dec 24) put February-delivery LNG into Northeast Asia around $9.60/mmBtu, slightly higher on the week—but still reflecting a generally soft market, with prices down significantly year-to-date. ^[19]

That same reporting highlighted:

• Stronger buying interest in South Korea tied to colder weather
• Weaker spot buying in China, contributing to the broader softness ^[20]

Europe: storage drawdown and early Q1 buying interest

Europe remains the “balancing market” when LNG is abundant. An Investing.com market analysis (published Dec 25) cited Europe’s gas storage level around 66.1% as of Dec 24, below average and below last year. ^[21]

Meanwhile, the Reuters LNG market update noted that European gas prices ticked up in thin trade on cold-spell forecasts, and also described firm buying interest into early Q1 2026 in parts of Central and Eastern Europe, tied to concerns about pipeline flows and regional supply needs. ^[22]

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Geopolitics and supply: Russia’s LNG delays and the pipeline pivot to China

Two Russia-linked developments are shaping longer-term supply expectations:

1. Russia delays LNG expansion targets:
   Reuters reported that Russia has pushed back by several years its plan to reach 100 million tons per year of LNG output, citing the impact of Western sanctions. ^[23]
2. Pipeline gas to China hits record levels:
   Reuters also reported that Gazprom supplied 38.8 bcm of gas to China via Power of Siberia in 2025, exceeding its contractual target. ^[24]

These shifts don’t directly set Henry Hub on any given day, but they do influence global LNG supply/demand expectations—which can feed back into U.S. LNG economics and, ultimately, U.S. gas balances.

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The bigger-picture debate: is the LNG buildout running ahead of demand?

A widely read Reuters Breakingviews column published today adds a longer-horizon angle: as major producers plan aggressive LNG capacity growth into 2030, the rapid cost declines and fast deployment of renewables (plus grid storage) could undercut future LNG demand growth—raising the risk of an oversupply cycle later in the decade. ^[25]

That matters even for today’s market because long-dated gas pricing and LNG contracting influence investment decisions, forward curves, and producer behavior—all of which shape how tight (or loose) the market can become in future winters.

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What to watch next for natural gas prices

Here are the near-term catalysts most likely to move U.S. natural gas into year-end:

• EIA storage report (holiday schedule): Monday Dec 29, 12:00 p.m. ET. ^[26]
• Early-January weather model runs: Watch whether the “colder eastern half” forecast persists and whether HDDs trend closer to (or above) normal. ^[27]
• LNG feedgas stability: Any operational disruptions (or ramp-ups) at major export plants—especially after Freeport’s return—can shift balances quickly. ^[28]
• Production and pipeline constraints: With output near records, the market is sensitive to any freeze-offs, maintenance, or regional bottlenecks. ^[29]
• Global LNG pricing and Europe’s storage trajectory: Soft Asia pricing and Europe’s winter drawdown keep the Atlantic Basin tug-of-war alive. ^[30]

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Where forecasts stand right now

EIA’s December STEO provides the clearest “official” baseline:

• Henry Hub spot price forecast: around $4.30/MMBtu on average this winter (Nov–Mar), then moderating to about $4.00/MMBtu next year. ^[31]
• EIA also noted it raised the winter price forecast versus last month due to colder early-December assumptions and stronger space-heating demand. ^[32]

That forecast lines up with what Friday’s market is pricing in: winter risk still matters, but the ceiling is debated because supply is robust and the system entered winter with above-average inventories. ^[33]

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The takeaway (as of 10:14 a.m. EST, 26.12.2025)

Natural gas is trading like a winter market again—weather-led, headline-sensitive, and increasingly tied to LNG flows. The next test is whether the colder outlook translates into a storage draw strong enough to overcome the market’s most stubborn counterweight: record U.S. production. ^[34]

References

1. www.barchart.com, 2. www.barchart.com, 3. www.worldenergynews.com, 4. www.barchart.com, 5. www.worldenergynews.com, 6. www.worldenergynews.com, 7. www.worldenergynews.com, 8. www.eia.gov, 9. www.worldenergynews.com, 10. www.worldenergynews.com, 11. www.eia.gov, 12. www.reuters.com, 13. ir.eia.gov, 14. www.barchart.com, 15. www.eia.gov, 16. www.eia.gov, 17. www.reuters.com, 18. www.eia.gov, 19. www.brecorder.com, 20. www.brecorder.com, 21. www.investing.com, 22. www.brecorder.com, 23. www.reuters.com, 24. www.reuters.com, 25. www.reuters.com, 26. ir.eia.gov, 27. www.worldenergynews.com, 28. www.worldenergynews.com, 29. www.worldenergynews.com, 30. www.brecorder.com, 31. www.eia.gov, 32. www.eia.gov, 33. www.eia.gov, 34. www.worldenergynews.com

Gold and silver price today, prediction and forecast gained attention after silver crossed the $75 mark for the first time. Gold also reached a new record. Platinum and palladium followed the same trend. Investors reacted to expectations of U.S. interest rate cuts and global uncertainty. These factors increased demand for precious metals across markets.

Gold and silver price today, prediction and forecast driven by rate cut expectations

Gold and silver price today, prediction and forecast remained supported due to expectations of lower U.S. interest rates. Spot gold rose 0.8 percent to $4,516.50 per ounce at 0933 GMT. Gold touched a record of $4,530.60 earlier. U.S. gold futures for February delivery rose 1 percent to $4,547.70.

UBS analyst Giovanni Staunovo said demand for gold and silver remains strong due to expectations of lower U.S. interest rates. He also said low liquidity is increasing volatility in precious metals markets.

Gold market outlook strengthens on policy trends

Gold and silver price today, prediction and forecast also reflects gold’s strongest yearly performance since 1979. Several factors supported this trend. These include Federal Reserve policy easing, central bank purchases, ETF inflows, and reduced reliance on the U.S. dollar.

Markets expect two interest rate cuts next year. These expectations are based on signals of a more flexible Federal Reserve approach. Gold remains supported as it does not offer yield but benefits from lower rates.

Physical demand trends impact gold pricing

Gold and silver price today, prediction and forecast also reflects physical market activity. Gold discounts in India widened to the highest level in more than six months. In China, discounts narrowed compared to last week. Earlier, China discounts had reached a five-year high.

These changes indicate varied demand conditions across major consumer markets. Pricing remains sensitive to local demand and currency movement.

Silver price surge reshapes gold and silver price today, prediction and forecast

Gold and silver price today, prediction and forecast highlights silver’s sharp rise. Spot silver rose 4 percent to $74.82 per ounce. It reached an all-time high of $75.14 earlier in the session. Silver prices have risen 158 percent so far this year.

The rise is linked to supply shortages, its classification as a U.S. critical mineral, and industrial demand. Silver continues to attract attention from investors seeking alternatives to gold.

Platinum and palladium join the rally

Gold and silver price today, prediction and forecast also includes movement in platinum and palladium. Spot platinum rose 7.3 percent to $2,382.35 per ounce. It earlier reached a record high of $2,448.25. Palladium rose 8.3 percent to $1,823.76.

Both metals are used in automotive catalytic converters. Prices increased due to supply constraints, tariff uncertainty, and shifting investment interest. Platinum is up around 170 percent this year. Palladium is up more than 90 percent.

Policy changes influence metal markets

Gold and silver price today, prediction and forecast also reflects policy developments. Staunovo said platinum and palladium markets are smaller than the gold market. Limited investor activity can cause sharp price movement.

He also noted that the European Commission’s plan to ease the 2035 ban on combustion engines has supported prices. This policy change increased expectations for continued demand in automotive use.

Weekly performance signals continued strength

Gold and silver price today, prediction and forecast shows all precious metals heading for weekly gains. Platinum recorded its strongest weekly rise on record. Market participants continue to track interest rate signals and supply conditions.

Precious metals remain sensitive to global economic signals. Investor focus remains on monetary policy, industrial demand, and geopolitical developments.

FAQs

Q1: Why are gold and silver prices rising today?
Gold and silver price today, prediction and forecast shows prices rising due to rate cut expectations, global uncertainty, supply shortages, and increased investment demand across precious metals markets.

Q2: What is the outlook for gold and silver prices?
Gold and silver price today, prediction and forecast suggests prices may remain supported as long as rate cut expectations, central bank buying, and industrial demand continue.

No Overhead Resistance, Only Reversal Risk

With no true resistance, let’s face it, the only fear for the bulls is a sudden reversal to the downside with better-than-average volume. We could still get this today, but if it occurs, it will be driven by low volume, which will set up the next “buy the dip” opportunity.

The New Definition of a Dip in a Vertical Gold Market

As we move higher and more vertical, the definition of dip is going to change. Sticking with a 50% correction of a price swing, our “dip” level at current price levels is $4350.27. That’s nearly $200. Welcome to the “new norm”. During the old regime, we were lucky to see $200 over a few months, maybe a year. However, as we move higher the swings will get bigger, the corrections will be greater and it will become a big boys game and remember that gold isn’t going to “split” like a stock does.

Fundamentals Take a Back Seat but Still Supportive

Back to the fundamentals, the mixed trade in Treasury yields is having little impact on gold prices today. The benchmark U.S. 10-year Treasury yield is trading 4.12%, down 0.014.

We didn’t see much of an impact on yields from this week’s initial claims report, but the Commerce Department’s GDP report showed that the U.S. economy grew by 4.3% in the first quarter, which was the country’s fastest pace of expansion since 2023. This kind of growth is likely to keep inflation boosted, which will be supportive for gold prices.

It seems to me that the economy is getting comfortable with inflation and growth, which will keep gold underpinned and the “buy” the dip strategy intact.

Dollar Breakdown Setup Could Add Fuel to Gold’s Upside

Today’s weaker U.S. Dollar (DXY) is also providing support for gold. The greenback is sitting on support at 97.814. Up above, the 50-day moving average at 98.452 and the 200-day moving average at 100.209 are providing solid resistance and controlling the downtrend. We’re at a critical point for the dollar. Our charts indicate the possibility of a steep decline under 97.814 with 96.218 the first target. Gold could pop even higher on this move.

December 26, 2025 — Natural gas is closing out the week with a familiar end-of-year mood: thinner holiday trading, sharper day-to-day swings, and a market still trying to decide whether winter will be a slow burn or a sudden blaze.

In early Friday pricing, NYMEX natural gas futures were trading around $4.345 per MMBtu, up about 2.4% on the session, with an indicated day range roughly $4.224–$4.382. ^[1]

Across the Atlantic, Europe’s benchmark Dutch TTF contract was holding near €28.095/MWh in the latest available quote shown by Investing.com (displayed as delayed data with a last date stamp of 24/12), underscoring how holiday calendars and liquidity can matter almost as much as weather models this week. ^[2]

Why natural gas is moving today

Even when price action looks “simple” (up day / down day), natural gas rarely is. Right now, the market is juggling four overlapping storylines:

1) Demand: winter heating loads vs. “milder” signals

One of the cleanest clues about near-term direction is whether heating demand is ramping fast enough to overwhelm supply. The latest American Gas Association (AGA) market indicators showed total U.S. demand (including exports) fell 11.5% week over week, though it remained 1.2% higher than the same week a year earlier—a mixed picture consistent with a winter that has teased cold but hasn’t delivered it everywhere at once. AGA also noted forecasts pointing to milder patterns (including warmer-than-normal conditions in parts of the country). ^[3]

That matters because winter doesn’t need to be “record cold” to move gas prices—just cold enough, in the right regions, for long enough, to tighten daily balances.

2) Inventories: strong withdrawals still needed to calm price volatility

Storage is the market’s shock absorber. When storage is comfortable, price spikes tend to fade; when storage gets tight, small surprises become big moves.

The last widely cited U.S. government storage snapshot available online this week showed working gas in storage at 3,579 Bcf as of Friday, Dec. 12, 2025, with a 167 Bcf weekly draw. ^[4]

With the next set of late-December numbers approaching, traders are leaning hard on expectations. Industry reporting has flagged that EIA data for the week ended Dec. 26 is scheduled for release on Wednesday, Dec. 31—a timing quirk that can amplify short-term volatility as the market trades “ahead of the print.” ^[5]

3) U.S. hub pricing is still whippy—and that matters for LNG economics

Even before today’s move higher, the market has been living through fast rotations. In EIA’s most recent weekly market update (earlier in December), the agency described a sharp drop in the Henry Hub spot price over the prior week and noted that front-month futures also moved down during that span—illustrating how quickly sentiment can change when weather forecasts shift. ^[6]

Those swings don’t just affect traders. They feed directly into global LNG competitiveness because the U.S. export model is tightly linked to Henry Hub pricing.

4) Geopolitics and infrastructure risk: energy markets hate uncertainty

Early Friday, Reuters reported that a blaze at Russia’s Azov Sea port of Temryuk—sparked by what local officials described as a Ukrainian drone attack—was extinguished, with fuel reservoirs being cooled. Reuters also noted the port handles liquefied petroleum gas (LPG) among other products. ^[7]

While that incident is not a direct “natural gas supply outage” headline, it reinforces a broader reality for the entire gas-and-LNG complex: infrastructure risk tends to put a floor under risk premiums, especially when markets are already thin.

The biggest natural gas headlines on Dec. 26, 2025

Beyond price screens, today’s natural gas news flow is being shaped by a set of region-specific stories—each different, but all pointing to the same theme: gas markets are becoming more policy-driven and logistics-constrained.

Australia: gas reform and domestic reservation—ambition meets long contracts

In Australia, the conversation is no longer about whether the east coast gas market needs intervention, but how fast reforms can translate into real supply and pricing outcomes.

A prominent analysis published today highlighted hurdles facing Australia’s push to prioritize domestic supply—particularly the reality that large LNG export contracts extend well into the 2030s, which can delay how quickly reforms bite. The same reporting flagged challenges around bringing on new upstream supply (including debates over regions such as the Beetaloo) and the political complexity of streamlining regulations across jurisdictions. ^[8]

This follows the Australian government’s own Gas Market Review messaging earlier this week, which recommended significant reforms, including a prospective domestic gas reservation policy, improvements to how gas is bought and sold, and streamlined reporting/governance. ^[9]

For global gas watchers, Australia matters because it’s a heavyweight LNG exporter. Any structural change that meaningfully shifts domestic vs. export allocation can ripple into LNG spot availability—though, as today’s coverage emphasizes, contract reality can slow the transmission mechanism.

Russia-China pipeline gas: a reminder that trade flows keep shifting

Separate Reuters reporting carried into today’s news cycle said Gazprom supplied 38.8 bcm of gas to China via the Power of Siberia pipeline in 2025, exceeding the annual contractual target of 38 bcm. ^[10]

The strategic significance: incremental pipeline volumes to Asia can offset some pressures elsewhere in Russia’s gas system—while also reinforcing how Europe and Asia are increasingly distinct pricing and flow theaters in a post-2022 world.

Russia LNG: sanctions continue to reshape long-term supply expectations

Another Reuters item widely recirculating today said Russia has delayed its ambition of producing 100 million tons per year of LNG by several years, citing the effects of Western sanctions on projects and equipment. The report also referenced revised strategy forecasts of 90–105 million tons by 2030 and up to 130 million tons by 2036, alongside discussion of delays at major developments. ^[11]

For today’s spot pricing, that’s not an “immediate outage” story. But for medium-term LNG balance, it’s highly relevant: when expected supply growth shifts rightward on the calendar, future winter risk premia can reappear.

Vietnam: CNG buses and factories watch 2026 supply and pricing risk

In Vietnam, today’s gas story is less about international geopolitics and more about “will the fuel arrive, and at what price?”

Tuoi Tre News reported that PV GAS D said it would continue supplying natural gas to customers, after concerns circulated that supply for CNG production to a trading company could be halted from January 1, 2026—a disruption that businesses warned could impact hundreds of operations and up to 500 CNG buses in Ho Chi Minh City. The report also described industrial customer concerns about potentially having to shift to LNG at higher cost and noted PV GAS D’s comments about declining domestic reserves, priority for power generation when needed, and expanded import/logistics options to stabilize supply. ^[12]

This kind of local supply anxiety is an underappreciated driver of long-term gas demand: if end users lose confidence in price stability or continuity, they start planning fuel-switching—even when gas is technically available.

India: new LNG station adds to the downstream buildout story

India’s gas market continues to be defined by infrastructure buildout—especially at the distribution and transportation layer.

Indian Infrastructure reported today that THINK Gas commissioned an LNG station in Rapthadu, Andhra Pradesh, and described the company’s footprint across multiple states and districts under the “Think Gas” brand. ^[13]

In a global context, these smaller commissioning announcements matter because they are the slow, cumulative mechanism by which LNG import volumes translate into actual end-use demand.

What to watch next

As the calendar flips toward year-end, three near-term catalysts stand out:

• Storage data cadence and expectations: With EIA numbers for the week ended Dec. 26 expected on Dec. 31, the market may remain more reactive to forecast tweaks than usual. ^[14]
• Weather model convergence (or chaos): If forecasts snap colder across high-consumption regions, gas can reprice quickly; if “milder” guidance holds, rallies tend to struggle for follow-through. ^[15]
• Policy and supply headlines outside the U.S.: Australia’s domestic reservation debate, Russia’s LNG delays, and Asia’s evolving downstream demand all feed into LNG availability—and LNG availability increasingly feeds back into regional gas pricing. ^[16]

Natural gas is, as always, a market where physics (weather, molecules, pipelines) meets politics (policy, sanctions, domestic priorities). On December 26, that collision is visible everywhere—from Henry Hub screens to Vietnamese bus depots to Australia’s LNG contract math.

References

1. www.investing.com, 2. www.investing.com, 3. www.aga.org, 4. www.eia.gov, 5. www.naturalgasintel.com, 6. www.eia.gov, 7. www.reuters.com, 8. www.theaustralian.com.au, 9. www.dcceew.gov.au, 10. www.reuters.com, 11. www.reuters.com, 12. news.tuoitre.vn, 13. indianinfrastructure.com, 14. www.naturalgasintel.com, 15. www.aga.org, 16. www.dcceew.gov.au

Gold and silver price today, prediction and forecast gained attention after silver crossed the $75 mark for the first time. Gold also reached a new record. Platinum and palladium followed the same trend. Investors reacted to expectations of U.S. interest rate cuts and global uncertainty. These factors increased demand for precious metals across markets.

Gold and silver price today, prediction and forecast driven by rate cut expectations

Gold and silver price today, prediction and forecast remained supported due to expectations of lower U.S. interest rates. Spot gold rose 0.8 percent to $4,516.50 per ounce at 0933 GMT. Gold touched a record of $4,530.60 earlier. U.S. gold futures for February delivery rose 1 percent to $4,547.70.

UBS analyst Giovanni Staunovo said demand for gold and silver remains strong due to expectations of lower U.S. interest rates. He also said low liquidity is increasing volatility in precious metals markets.

Gold market outlook strengthens on policy trends

Gold and silver price today, prediction and forecast also reflects gold’s strongest yearly performance since 1979. Several factors supported this trend. These include Federal Reserve policy easing, central bank purchases, ETF inflows, and reduced reliance on the U.S. dollar.

Markets expect two interest rate cuts next year. These expectations are based on signals of a more flexible Federal Reserve approach. Gold remains supported as it does not offer yield but benefits from lower rates.

Physical demand trends impact gold pricing

Gold and silver price today, prediction and forecast also reflects physical market activity. Gold discounts in India widened to the highest level in more than six months. In China, discounts narrowed compared to last week. Earlier, China discounts had reached a five-year high.

These changes indicate varied demand conditions across major consumer markets. Pricing remains sensitive to local demand and currency movement.

Silver price surge reshapes gold and silver price today, prediction and forecast

Gold and silver price today, prediction and forecast highlights silver’s sharp rise. Spot silver rose 4 percent to $74.82 per ounce. It reached an all-time high of $75.14 earlier in the session. Silver prices have risen 158 percent so far this year.

The rise is linked to supply shortages, its classification as a U.S. critical mineral, and industrial demand. Silver continues to attract attention from investors seeking alternatives to gold.

Platinum and palladium join the rally

Gold and silver price today, prediction and forecast also includes movement in platinum and palladium. Spot platinum rose 7.3 percent to $2,382.35 per ounce. It earlier reached a record high of $2,448.25. Palladium rose 8.3 percent to $1,823.76.

Both metals are used in automotive catalytic converters. Prices increased due to supply constraints, tariff uncertainty, and shifting investment interest. Platinum is up around 170 percent this year. Palladium is up more than 90 percent.

Policy changes influence metal markets

Gold and silver price today, prediction and forecast also reflects policy developments. Staunovo said platinum and palladium markets are smaller than the gold market. Limited investor activity can cause sharp price movement.He also noted that the European Commission’s plan to ease the 2035 ban on combustion engines has supported prices. This policy change increased expectations for continued demand in automotive use.

Weekly performance signals continued strength

Gold and silver price today, prediction and forecast shows all precious metals heading for weekly gains. Platinum recorded its strongest weekly rise on record. Market participants continue to track interest rate signals and supply conditions.

Precious metals remain sensitive to global economic signals. Investor focus remains on monetary policy, industrial demand, and geopolitical developments.

FAQs

Q1: Why are gold and silver prices rising today?
Gold and silver price today, prediction and forecast shows prices rising due to rate cut expectations, global uncertainty, supply shortages, and increased investment demand across precious metals markets.

Q2: What is the outlook for gold and silver prices?
Gold and silver price today, prediction and forecast suggests prices may remain supported as long as rate cut expectations, central bank buying, and industrial demand continue.

Short-Term Pullback Risk and Support Levels

In the short-term, however, a pullback to test prior resistance as support – the first pullback after the breakout – is a risk. A first, more significant upside target at 127.2.% extension of the prior pullback is at $4,516. That is essentially a match to the high for the week to date, especially given a mild bearish reaction that followed Wednesday’s high. The prior high of $4,381, along with the 10-day average, now at $4,360 and rising, presents a first more significant potential support zone. A bullish reversal ending a pullback higher than $4,381, would suggest sustained strong support.

Current Advance Could Be Early in Larger Leg Up

When considering prior upswings in the price of gold, the current eight-week advance may still be early in the current leg up that began from the October swing low, given gains seen since then. Out of the four prior new trend highs sustained since 2024, time ranges are indicated at 5 and 6 weeks, and then at 11 and 12 weeks. Keep in mind that the first week of a new high breakout has yet to complete. This leaves potential in time and price.

Momentum Strength and Next Upside Targets

In addition to the rising slope of the bull trend, strong bullish momentum is indicated by a successful second breakout through the top of a rising trend channel. This confirms strength in the current advance. At the same time, it shows the price becoming further extended. Nevertheless, the potential for a continuation of the trend with a higher rate of change is suggested by the pattern. The next upside target for gold is at the 161.8% projection of a rising ABCD pattern. Further up is a large confluence zone starting at $4,664 and up to $4,713.

For a look at all of today’s economic events, check out our economic calendar.