Gold Market Update – On December 11, the benchmark 10-year U.S. Treasury yield closed at 4.1550%, while the policy-sensitive 2-year yield settled at 3.5530%. Following the Fed's third consecutive rate cut, spot gold briefly climbed above $4,230, ultimately closing 0.48% higher at $4,228.55 per ounce. Spot silver surged over $1 intraday, hitting a fresh all-time high, and closed up 1.89% at $61.81 per ounce. Oil prices reversed losses and closed higher after the U.S. seized a tanker off Venezuela’s coast. WTI crude, which earlier fell over 1%, ended 0.93% higher at $58.82 per barrel, while Brent crude rose 0.84% to $62.49 per barrel.
Latest Gold Price Movement – Gold opened at $4,208.1 per ounce in early trading, initially rising to $4,219 before retreating sharply to a daily low of $4,181.2. However, a late-session rally driven by the Fed’s rate cut pushed prices to a peak of $4,238.9, with the metal settling at $4,227.9—forming a bullish candlestick with a long lower shadow. This signals sustained upward momentum. Strategy: With gold stabilizing and resuming gains, prioritize dip-buying today while supplementing with high-level shorts. Resistance levels: $4,260–$4,280; support: $4,219–$4,200.
Nasdaq Index Update – The Nasdaq opened at 25,651.14, initially climbing to 25,713.6 before a steep pullback to 25,495.44. A Fed-induced rally later drove the index to a high of 25,835.87, closing at 25,770.78—a hammer candlestick with a long lower shadow, indicating continued bullish bias. Strategy: After a strong rally, today’s gap-down opening suggests potential further support testing. Focus on buying dips, with secondary high-level shorts. Resistance: 25,780–26,000; support: 25,650–25,500.
Disclaimer: Market data is for reference only; investment decisions carry inherent risks.
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