Bank of America Posts Strong Q4 2024 Results, Shares Rise 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Wall Street Analysts Weigh in on Latest NFP Data 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
Urban studies: Doing research when every city is different 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
China's Refining Industry Faces Major Shakeup Amid Challenges 
US Gas Market Poised for Supercycle: Bernstein Analysts 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
2025 Market Outlook: Key January Events to Watch 
Gold -
Ichimoku Analysis (4 hour chart)
Tenken-Sen- $1995.41
Kijun-Sen- $2007.96
Gold is trading lower for a second consecutive week on a strong US dollar and rising US treasury yield. It hit a low of $1975 and is currently trading at around $1985.75.
Analyst predicts a minor downtick in headline inflation on a yearly basis. While core CPI is expected to remain flat.
Major economic data for the day
Dec 12th, 2023,
US CPI m/m (1:30 pm GMT)
US dollar index- Bullish. Minor support around 102/100. The near-term resistance is 104.40/105.
According to the CME Fed watch tool, the probability of a no-rate hike in Dec decreased to 98.4% from 99% a week ago.
The US 10-year yield pared some of its gains ahead of US CPI. The US 10 and 2-year spread widened to -49% from -34%.
Factors to watch for gold price action-
Global stock market- Bullish (negative for gold)
US dollar index - Bullish (negative for gold)
US10-year bond yield- Bearish (Positive for gold)
Technical:
The near–term support is around $1970, a break below targets of $1950/$1932.The yellow metal faces minor resistance around $2000 and a breach above will take it to the next level of $2020/$2050.
It is good to sell on rallies around $2000 with SL around $2020 for TP of $1945.
Silver-
Silver showed a minor pullback due to profit booking after a massive sell-off. The precious metal is trading well below 200-day EMA ($23.20). Any daily close above $23.25 confirms a minor uptrend, a jump to $24/$25 is possible. Minor support is $22.60/$22/$21.80.
Crude oil-
WTI crude gained yesterday extending its Friday's rally on US SPR refill news. The US federal government wants to buy 3 million barrels for the Strategic Petroleum Reserve (SPR).
Major resistance- $75/80. Significant support- $68/$63.
