GOLD MARKET ANALYSIS AND COMMENTARY - [Dec 09 - Dec 13]

9 Ara

Last week, international XAUUSD almost went sideways in a range from 2,613 - 2,657 USD/oz.

The US economy created 227,000 jobs in November, slightly surpassing economists' forecasts. At the same time, wages increased faster than expected. However, the unemployment rate increased again to 4.2%. However, these data show that the US labor market has been tending to recover, creating momentum for the FED to consider delaying interest rate cuts in the context of higher inflation, especially is when Mr. Trump is about to take office as President of the United States.

Thus, there may not be much room for gold prices to increase because the FED cuts interest rates. Therefore, gold prices will need additional catalysts from geopolitical factors, central banks increasing gold purchases, etc.

Short-term gold prices in general and next week's gold prices in particular will still be in a state of tension between concerns about escalating geopolitical tensions and Mr. Trump's strong tariff measures, causing US Treasury bond yields to increase. , creating strength for the USD and limiting the rise in gold prices.

📌Technically, on the H4 chart, we can see that the moving average ema89 is moving sideways, the gold price continues to accumulate sideways in a narrow range. Accordingly, the resistance level to pay attention to is around the 2720 mark, the support level to pay attention to is around the 2535 mark. Gold prices will create a clear trend when breaking through these two resistance levels.

Notable technical levels are listed below.
Support: 2,600 – 2,606USD
Resistance: 2,663 – 2,644USD

SELL XAUUSD PRICE 2721 - 2719⚡️
↠↠ Stoploss 2725

BUY XAUUSD PRICE 2534 - 2536⚡️
↠↠ Stoploss 2530

9 Ara

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Precious metal prices increased 0.6%, trading below 2,650 USD/oz, after the PBoC's announcement to buy 160,000 ounces of gold last month.

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The market predicts that the Federal Reserve (Fed) will reduce interest rates by about 25 basis points by the end of the year. This expectation helps reduce US bond yields and lower inflation forecasts. The USD and bond yields fell after the jobs report, but this downward trend was only short-term.

9 Ara

Not

Gold broke out to 2,674 USD/oz

10 Ara

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World gold price recorded 2,662.73 USD/ounce in the first trading session of the week, increasing sharply and reaching a 2-week high of 2,680 USD/ounce, boosted by the information that the Central Bank of China (PBOC) rotated Return to buying gold reserves after 6 months of pause and expect the Fed to cut interest rates at next week's meeting.

10 Ara

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⚫At the end of the Asian session on December 10, spot gold price fluctuated around 2,670 USD/ounce, up about 10 USD during the day.

11 Ara

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🔴Spot gold reached 2,701 USD/ounce, the highest level in two weeks, up 0.24% on the day.

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- XAUUSD has broken out strongly from a sideways range, with swings higher and a bullish EMA divergence also indicating bullish momentum in the pair.