Weekly

Since last week was a Christmas holiday, the major markets in Europe and America were closed, and many trading days have already started to take vacations, the trading volume was relatively light, and the gold price fluctuated only in the range, and the ability to break up or down was not high.

At the beginning of the week, following the rebound trend of the previous week, the low price of gold continued to stay above 2600, hovering around 2620, and the trend was tepid. After the Christmas holiday, it once rose to a full-week high of 2639, but it was unable to succeed, and then fell back to 2620 again on Friday.

The market is not strong enough to walk out of the recent trading range, and the market is still digesting the limited interest rate cut by the Federal Reserve in 2025, which is different from the rapid interest rate cut in the early part of the interest rate cut period, and the market has the opportunity to maintain the high interest rate level for a longer time. This is undoubtedly a certain obstacle to the rise of gold.

Looking forward to next week, the holiday atmosphere will remain strong and trading will be relatively light. The more important economic data is the ISM manufacturing PMI index on Friday, and 50 is the dividing line between profit and decline. If it is higher than 50, it will indicate the development of the US dollar. The market situation is a bit different, so let's refer to each other. I wish you all progress in the New Year and a satisfactory harvest in 2025.