U.S. Banks Report Strong Q4 Profits Amid Investment Banking Surge 
U.S. Treasury Yields Expected to Decline Amid Cooling Economic Pressures 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 
Mexico's Undervalued Equity Market Offers Long-Term Investment Potential 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
US Gas Market Poised for Supercycle: Bernstein Analysts 
China's Refining Industry Faces Major Shakeup Amid Challenges 
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data 
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms 
Stock Futures Dip as Investors Await Key Payrolls Data 
Gold Prices Slide as Rate Cut Prospects Diminish; Copper Gains on China Stimulus Hopes 
2025 Market Outlook: Key January Events to Watch 
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays 
Geopolitical Shocks That Could Reshape Financial Markets in 2025 
Moldova Criticizes Russia Amid Transdniestria Energy Crisis 
UBS Projects Mixed Market Outlook for 2025 Amid Trump Policy Uncertainty 
Gold -
Ichimoku Analysis (4 hour chart)
Tenken-Sen- $2034.38
Kijun-Sen- $2031.82
Gold recovered slightly despite upbeat US economic data. US Conference Board consumers rose to 110.70 in Nov, compared to a forecast of 104.60. US existing home sales increased 0.80% unexpectedly in Oct to a seasonally adjusted annual rate of 3.82 million vs. an Estimate of 3.77 million.
It hit a low of $2047.01 and is currently trading at around $2036.28.
According to the CME Fed watch tool, the probability of a 25 bpbs rate cut in Jan increased to 12.4% from 10.2% a week ago.
Economic calendar -
Dec 21st, 2023, US Final GDP q/q (1:30 pm GMT)
US unemployment claims (1:30 pm GMT)
US dollar index- Bearish. Minor support around 101.75/101. The near-term resistance is 103.25/104.
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 broke significant resistance at $24.30 after a long consolidation. The near-term resistance is around $24.50. Any convincing break above $24.50, a jump to $25/$26. Minor support is $23.60/$23.
Crude oil-
WTI crude pared some of its gains after the US crude inventory report. According to EIA US oil inventory came at 2909k compared to a forecast of 2283K.
Major resistance- $75/80. Significant support- $66.50/$63.
