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Global markets started the week on a cautious note as investors sought safety in precious metals while monitoring shifting supply signals in energy markets.
Gold and Silver advanced amid renewed defensive demand, driven by persistent geopolitical tensions and uncertainty around the Fed’s next policy steps. Meanwhile, crude oil prices rebounded above $61.00 after OPEC+ hinted at pausing its planned production increases, easing concerns of an imminent supply glut.
In currency markets, the Japanese Yen remained under pressure amid speculation about the Bank of Japan’s next move, while the Chinese Yuan held steady following a stable PBoC reference rate.
Gold trades around $4,000, recovering from last week’s decline as risk-off sentiment supports renewed defensive demand. However, upside momentum remains capped by a modestly firmer US Dollar and cautious market positioning ahead of key US economic data releases.
Geopolitical Risks: Ongoing global political uncertainty continues to bolster demand for metals as protective assets.
US Economic Data: Upcoming US labor and inflation figures could influence near-term rate expectations and gold’s trajectory.
FOMC Outcome: Markets remain divided on the Fed’s December rate outlook, with dovish bets offering limited upside for gold.
Trade Policy: Easing US-China tensions reduce extreme safe-haven inflows, tempering gold’s momentum.
Monetary Policy: Central bank gold purchases remain supportive, providing a steady floor to prices.
Trend: Consolidation phase after rebounding from a two-week low.
Resistance: $4,050 remains the key ceiling before $4,100.
Support: Initial support sits near $3,970, followed by $3,950.
Forecast: Neutral-to-bullish; gold may hold above $3,950 unless stronger US data triggers fresh USD gains.
Market Sentiment: Cautious optimism prevails as investors maintain selective exposure to metals.
Catalysts: Upcoming Fed speeches and US economic indicators will guide short-term direction.
Silver trades near $49.00, extending its rebound amid renewed demand for defensive and industrial metals. Traders remain cautious, with profit-taking likely if the US Dollar strengthens ahead of major economic releases.
Geopolitical Risks: Persistent global trade uncertainties sustain moderate demand for tangible assets like silver.
US Economic Data: Anticipation of upcoming CPI and labor market data weighs on speculative positioning.
Trade Policy: Improving trade relations slightly reduce defensive demand but aid industrial outlook.
Trend: Gradual recovery with fading downside momentum.
Forecast: Mildly bullish; potential to test $49.50 if Dollar remains subdued.
Market Sentiment: Balanced, with investors rotating between safe-haven and industrial exposure.
Catalysts: US inflation data and Treasury yield shifts to influence next move.
WTI trades around $61.00, supported by OPEC+’s decision to pause planned production hikes. The announcement eased oversupply concerns and lifted market sentiment, though global demand growth remains under scrutiny.
Geopolitical Risks: Middle East supply stability remains fragile, keeping prices sensitive to regional developments.
US Economic Data: Mixed US growth data hint at steady fuel demand, limiting further declines.
FOMC Outcome: Stable Fed policy outlook supports broader market confidence and commodity appetite.
Trend: Reversal from prior downtrend; momentum turning positive.
Resistance: $61.70, followed by $62.50.
Support: Key floors at $60.30 and $59.80.
Market Sentiment: Optimistic following OPEC+’s decision and steady global demand.
Catalysts: US inventory data and OPEC+ commentary remain key short-term triggers.
USD/JPY trades near 154.00, with the Yen remaining under pressure amid persistent BoJ uncertainty. Traders await clarity on Japan’s inflation outlook and possible yield curve control adjustments.
Geopolitical Risks: Regional political stability in Asia tempers demand for the Yen as a risk hedge.
US Economic Data: Stronger US data could widen rate differentials, weighing on JPY.
FOMC Outcome: A hawkish-leaning Fed tone could reinforce USD strength versus the Yen.
Trend: Range-bound with mild USD bias.
Resistance: 154.50 and 155.00.
Support: 153.20 and 152.70.
Forecast: Neutral-to-bearish; potential downside correction if BoJ rhetoric turns hawkish.
Market Sentiment: Mixed as traders weigh divergent policy paths between the Fed and BoJ.
Catalysts: BoJ statements and US yields to steer pair direction.
USD/CNY holds steady near 7.0867 after the PBoC set a slightly stronger reference rate. Markets interpret the move as a signal that Beijing is content with maintaining Yuan stability amid global policy uncertainty.
Geopolitical Risks: Reduced US-China friction offers some relief to regional currencies.
US Economic Data: Upcoming US figures could influence global risk appetite and Dollar demand.
FOMC Outcome: Fed policy clarity could determine USD flows toward Asia.
Trade Policy: Constructive dialogue between Washington and Beijing supports Yuan resilience.
Trend: Sideways with limited volatility.
Resistance: 7.0950 and 7.1100.
Support: 7.0750 and 7.0600.
Forecast: Stable bias; modest Yuan strength possible if risk sentiment improves.
Market Sentiment: Neutral, with confidence in China’s near-term currency management.
Catalysts: PBoC rate guidance and US-China trade updates remain key influencers.
Investor focus now turns to this week’s central bank remarks and US economic data, which could determine whether risk appetite strengthens or safe-haven flows persist.
A cautious tone continues to define market sentiment, with traders balancing optimism over oil stability against ongoing policy and inflation uncertainties across major economies.
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