Urban studies: Doing research when every city is different 
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Gold -
Ichimoku Analysis (Weekly chart)
Tenken-Sen- $2039.17
Kijun-Sen- $1978.53
Gold trades higher after weak US PCE data. The PCE index surges 2.6% YoY in Nov, below market expectations of 2.8%. The Core PCE rose 3.2% in the same period from 3.4% in Oct. came to 4.9% for the third quarter, below the estimate of 5.2%. US durable goods orders surged sharply to, the highest level since July 2020.
According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in Jan increased to 16.5% from 8.3% a week ago.
Economic calendar - for the week
Dec 27th, 2023, US Richmond Manufacturing Index (3 pm GMT)
Dec 28th, 2023, US pending home sales (3 PM GMT)
US dollar index- Bearish. Minor support around 101.40/101. The near-term resistance is 102.60/103.50.
Factors to watch for gold price action-
Global stock market- Bullish (negative for gold)
US dollar index - Bearish (positive for gold)
US10-year bond yield- Bearish (Positive for gold)
Technical:
The near–term support is around $2050, a break below targets of $2035/ $2020/ $2000/$1970. The yellow metal faces minor resistance around $2070 and a breach above will take it to the next level of $2080/$2100.
It is good to buy on dips around $2050 with SL around $2035 for TP of $2100.
Silver-
Silver is consolidating after three weeks of bullish trend. The near-term resistance is around $24.61 (61.8% fib). Any convincing break above $24.60 confirms further bullishness, a jump to $25/$26. Minor support is $24/$23.60.
Crude oil-
WTI crude oil prices showed a minor decline after Angola decided to exit from OPEC. Angola protested against the output cut by OPEC in Nov meeting and planning to increase output by 1.8 million bpd. Major resistance- $75.35/80. Significant support- $72/$70.
