Gold Market Update – On December 9, the benchmark 10-year U.S. Treasury yield closed at 4.1670%, while the policy-sensitive 2-year yield settled at 3.5810%. Spot gold retreated by $30 during the U.S. session due to a stronger dollar index, ultimately closing 0.15% lower at $4,190.68 per ounce. Spot silver also dipped 0.25% to $58.15 per ounce. Despite apparent diverging views among FOMC members on upcoming rate decisions, former White House economist Kevin Hassett noted that Chair Powell has aligned policymakers with market expectations. Futures data as of Monday indicated a near-100% probability of a 25-basis-point rate cut this Wednesday.
Latest Gold Price Action – Gold opened at $4,197.4/oz yesterday, initially climbing to a daily high of $4,219.1 before sharply retreating to a low of $4,175.9. It consolidated to close at $4,190.7, forming a spinning top candlestick with a longer upper shadow—suggesting continued consolidation with potential breakout risks. Key levels: Resistance at $4,200-$4,220; support at $4,175-$4,160. Trading strategy favors selling rallies with secondary buy-on-dips.
Nasdaq Index Update – The Nasdaq opened slightly higher at 25,730.39, filled its gap to 25,661.88, then surged to 25,824.35 before retreating to 25,525.84. It closed at 25,666.78, forming a spinning top with a longer lower shadow—maintaining its bullish bias. Key levels: Resistance at 25,739-25,850; support at 25,620-25,500. Strategy leans toward buying dips with limited sell-on-strength.
Disclaimer: Market data is for reference only; investors assume all risks.
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