U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
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Wall Street Analysts Weigh in on Latest NFP Data 
European Stocks Rally on Chinese Growth and Mining Merger Speculation 
U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
Global Markets React to Strong U.S. Jobs Data and Rising Yields 
China’s Growth Faces Structural Challenges Amid Doubts Over Data 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
China's Refining Industry Faces Major Shakeup Amid Challenges 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
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.
