Weekly

Last week, the price of gold fluctuated greatly. As soon as the market opened on Monday, the price of gold fell sharply, falling by more than one hundred dollars in a single day. After falling below the 2700 mark, it forced the 2600 mark. Fortunately, it found support to rebound in 2605. The geopolitical risk events in the middle of the week also supported the stabilization of gold prices. Both Israel and Palestine accused each other of violating the agreement, and the market continued to have capital inflows to hedge, but Trump Trade was more dominant in the market.

US President-elect Trump suspected of increasing tariffs. The news stimulated the market to rekindle expectations of inflation and lowered the prospect of interest rate cuts, which made the price of gold rebound but failed to stabilize. Looking forward to this week, there are a number of economic data released, including small non-agricultural enterprises in the middle of the week and small non-agricultural enterprises on Friday. The labor market shows signs of deterioration, and the Christmas holiday is approaching. If the number of new jobs in enterprises remains sluggish, the risk of recession will rise.

The demand for interest rate cuts in the United States will increase in December, which will depress the dollar. In addition, Federal Reserve Chairman Powell will deliver his last public speech before the silent period, which is believed to bring inspiration to the interest rate discussion this month and even the interest rate in 2025, which deserves attention. The market situation is a bit different, so let's refer to each other.