Gold Market Update – On December 12, weaker-than-expected U.S. employment data pushed the dollar index lower, closing down 0.60% at 98.65. The benchmark 10-year U.S. Treasury yield settled at 4.1610%, while the policy-sensitive 2-year yield ended at 3.5510%. Spot gold surged to a one-month high, gaining 1.21% to $4,279.89/oz, while silver hit a record high, rising 3% to $63.57/oz. U.S. initial jobless claims posted their largest weekly increase since the pandemic. The Fed reappointed 11 regional bank presidents, easing concerns over leadership uncertainty.
Latest Gold Price Movement – Gold opened at $4,229.6/oz, initially climbing to $4,247.9 before a sharp pullback to $4,203.9. It then rebounded strongly, peaking at $4,286.3, and closed at $4,281/oz. The daily candle formed a long lower-wick bullish pattern, signaling sustained upward momentum. Overall, gold remains in a bullish trend. Today’s strategy favors buying on dips, with resistance at $4,285–$4,310 and support at $4,262–$4,240.
Nasdaq Index Update – The Nasdaq opened at 25,751.35, edging up to 25,762.36 before retreating to a low of 25,353.31. A late rally pushed it to 25,836.31, closing at 25,807.20. The daily chart shows a hammer-like pattern, indicating continued consolidation near highs. The index remains range-bound, with potential for a breakout. Today’s approach prioritizes dip-buying, targeting resistance at 25,837–25,950 and support at 25,618–25,500.
Disclaimer: Market analysis is for reference only. Investors should assess risks independently.
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