European Stocks Rally on Chinese Growth and Mining Merger Speculation 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
Fed May Resume Rate Hikes: BofA Analysts Outline Key Scenarios 
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts 
China's Refining Industry Faces Major Shakeup Amid Challenges 
Stock Futures Dip as Investors Await Key Payrolls Data 
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One 
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 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty 
U.S. Stocks vs. Bonds: Are Diverging Valuations Signaling a Shift? 
2025 Market Outlook: Key January Events to Watch 
Energy Sector Outlook 2025: AI's Role and Market Dynamics 
Gold -
Ichimoku Analysis (4 hour chart)
Tenken-Sen- $2015
Kijun-Sen- $2010.55
Gold has consolidated in a narrow range between $2015.68 and $2033.71 for the past two days. It hit a high of $2047.95 the previous week and is currently trading at around $2024.73.
The dovish comments from Fed members and easing treasury yields support the yellow metal lat lower levels. San Francisco President Mary Daly said in a Wall Street Journal interview that it is appropriate for the Fed to consider rate cuts in 2024.
Major economic data for the day
Dec 19th, 2023, US housing starts (1:30 am GMT)
Building permits
Canada CPI
US dollar index- Bearish. Minor support around 101.75/101. The near-term resistance is 103.25/104.
According to the CME Fed watch tool, the probability of a rate pause in Jan decreased to 91.7% from 97.8% a week ago.
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 $2015, a break below targets of $2000/$1970. The yellow metal faces minor resistance around $2050 and a breach above will take it to the next level of $2070/$2100.
It is good to buy on dips around $2000 with SL around $1986 for TP of $2150.
Silver-
Silver pared some of its gains after a minor pullback. The precious metal performed well in the past week due to a dovish Fed rate pause. The near-term resistance is around $24.22 (50% fib retracement). Any close above $24.22, a jump to $25/$26. Minor support is $23.60/$23.
Crude oil-
WTI crude jumped more than 1% as Russian exports declined and Red Sea supply concerns.
Major resistance- $75/80. Significant support- $66.50/$63.
