On December 5, as global economic uncertainties intensified toward the end of 2025, gold prices held steady above $4,200, supported by multiple factors including weak U.S. ADP employment data, rising expectations of Fed rate cuts, and a weaker dollar. Movements in the U.S. Treasury market also provided solid backing for gold. On Wednesday, the yield on the 10-year Treasury note fell 2.9 basis points to 4.06%, while the 2-year yield dropped 3 basis points to 3.48%. The decline in yields directly reduced the appeal of bonds, enhancing gold's relative value as a non-yielding asset. Market attention is focused on the potential appointment of Kevin Hassett, the current White House economic advisor and director of the National Economic Council (NEC), as the new Fed chair, with investors speculating whether he might accelerate the pace of rate cuts.
Technically, gold remains in an upward trajectory. On the daily chart, the 21-day Simple Moving Average (SMA) continues to rise and remains above the 50-day, 100-day, and 200-day SMAs, currently providing strong support around $4,137. The Relative Strength Index (RSI) stands at 63 and is trending higher, while the Average Directional Index (ADX) near 21 further reinforces bullish momentum. Analysts suggest that if buying pressure persists, the first resistance level for gold lies at the December 1 high of $4,264. A breakout above this level could pave the way toward the all-time high of $4,380, which may determine the sustainability of the current uptrend. Support is seen between $4,105 and $4,130, a key SMA convergence zone.
Silver, meanwhile, surged to a record high of $58.97 after breaking through the $54.40–$54.50 resistance level last Friday. Despite reaching historic highs, silver prices remain stable, though short-term overnight RSI levels may introduce resistance and trigger a brief pullback. Any corrective declines could present buying opportunities, with support around $57.65. If silver holds above the 10-day SMA at $56.30, the uptrend is likely to continue, potentially targeting the psychological $60 level.
In the cryptocurrency market, Bitcoin initially plunged 7% on Monday after regulators classified stablecoins as a form of virtual currency and included them in the illegal financial activities oversight framework. However, Bitcoin quickly rebounded to $90,000 following the U.S. announcement to end quantitative tightening (QT). Analysts note that $90,000 now serves as a critical bull-bear threshold, with its sustainability determining future price action. Additionally, Bank of America has officially entered the digital asset space, allowing its wealth management division to include Bitcoin in investment portfolios. This move could influence other hesitant financial institutions and underscores the growing significance of the crypto market.
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