This site uses cookies to provide you with a great user experience. By visiting monetamarkets.com, you accept our cookie policy.
Allow all
This site uses cookies to provide you with a great user experience. By visiting monetamarkets.com, you accept our cookie policy.
Allow all
This website is operated by Moneta Markets Ltd, which is not authorised or regulated by the UK Financial Conduct Authority (FCA) and does not offer or promote services to UK residents. Access to this website is restricted in the UK and the content is not intended for distribution to, or use by, any person located in the UK. If you believe you have reached this website in error, please exit the page now
Please note that Moneta Markets operates this website and its services are not directed at residents of your jurisdiction.
The information on this site is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
If you have arrived here in error, we kindly advise you to exit the site.
Continue to Site
Gold and silver surged to fresh highs today, driven by mounting expectations of Federal Reserve rate cuts and a pullback in US yields. Gold pushed above $4,200 while silver extended its record-breaking run beyond $57.50, underscoring strong momentum across precious metals.
Commodity markets were active as well, with oil jumping toward $59.30 after OPEC+ moved to halt supply increases, while major currencies reacted to weaker US Dollar flows and softening global manufacturing signals.
Gold extends its rally above $4,200 as investors continue pricing in deeper Fed rate cuts into early 2025. The latest upside move reflects easing US Treasury yields and sustained demand for haven assets despite improving risk sentiment.
Geopolitical Risks: Continued geopolitical uncertainty in the Middle East and Europe underpins safe-haven buying.
US Economic Data: Softer US releases have reinforced expectations of slowing economic momentum.
FOMC Outcome: Increasing market confidence that the Fed will begin cutting rates sooner is fueling upward pressure.
Trade Policy: Stable global trade conditions support demand for metals as alternative investment assets.
Monetary Policy: Expectations of a more accommodative Fed remain the primary bullish catalyst.
Trend: Strong bullish trend remains intact above major moving averages.
Resistance: Immediate resistance stands at $4,250.
Support: Initial support lies near $4,150.
Forecast: Momentum suggests potential continuation toward the mid-$4,200s if yields stay subdued.
Market Sentiment: Bullish sentiment dominates across the metals complex.
Catalysts: US inflation data and any fresh Fed commentary will be key drivers.
Silver pushes to a record high above $57.50 as bullish metals sentiment accelerates. Despite strong gains, overbought RSI conditions suggest limited room for immediate upside before a healthy correction.
Geopolitical Risks: Global tensions keep investor interest in safe-haven assets elevated.
US Economic Data: Mixed US indicators continue to weigh on the Dollar, benefiting silver.
Trade Policy: Stable trade flows support industrial metals demand.
Trend: Momentum remains strongly bullish despite overextended readings.
Forecast: Consolidation is likely, though deeper gains remain possible if Fed expectations strengthen.
Market Sentiment: Extremely bullish but monitoring for exhaustion signs.
Catalysts:US data and potential corrections in overbought conditions.
WTI jumps to near $59.30 after OPEC+ agreed to halt upcoming supply hikes, providing a bullish lift to the market. The decision offsets concerns about weakening global demand and helps stabilize prices.
Geopolitical Risks: Middle East tensions remain a key factor supporting crude.
US Economic Data: Soft data raises concerns for demand but is outweighed by supply optimism.
FOMC Outcome: Potential rate cuts may indirectly support oil via improved economic outlook.
Trend: Short-term momentum has turned positive following the OPEC+ announcement.
Resistance: Resistance sits at $60.00.
Support: Support aligns near $58.20.
Market Sentiment: Improving after the supply decision.
Catalysts: OPEC+ statements, US crude inventory data.
EUR/USD trades above 1.1600 and tests the 200-day SMA as the US Dollar weakens broadly. The pair is benefiting from improved Eurozone sentiment and reduced demand for Dollar safe-haven flows.
Geopolitical Risks: Calm geopolitical backdrop helps AUD maintain risk-linked support.
US Economic Data: Softer US metrics weigh on USD strength.
FOMC Outcome: Growing Fed cut expectations pressure the Dollar.
Trend: Short-term recovery remains intact.
Resistance: 1.1625 near the 200-day SMA.
Support: Immediate support lies at 1.1570.
Forecast: A break above the SMA may pave the way for further gains toward 1.1670.
Market Sentiment: Mildly bullish as USD softens.
Catalysts: Eurozone data and US Dollar positioning.
China’s RatingDog Manufacturing PMI slipped to 49.9 in November, missing expectations of 50.5 and signaling renewed contraction. The data weighs on Chinese economic sentiment and maintains pressure on the Yuan.
Geopolitical Risks: Global trade uncertainty increases downside risks to China’s manufacturing recovery.
US Economic Data: Weak US data supports Dollar softness but does little to lift Chinese domestic sentiment.
FOMC Outcome: Potential Fed cuts may relieve pressure on CNY in the medium term.
Trade Policy: China continues to navigate slower export demand.
Trend: Bias remains slightly upward as CNY faces pressure.
Resistance:7.0900.
Support: 7.0750.
Forecast: CNY may remain under pressure unless manufacturing momentum improves.
Market Sentiment: Cautious as manufacturing falls back into contraction.
Catalysts: PBOC statements and fiscal policy measures.
Precious metals dominated today’s market narrative, with gold and silver setting fresh highs as Fed rate cut bets intensified and the US Dollar weakened. Oil prices also firmed on OPEC+ supply decisions, while major currencies reacted to shifting rate expectations and mixed global data. Markets now look ahead to upcoming US releases and central bank commentary to confirm whether the current momentum across commodities and FX can continue.
Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!
