On Friday, December 8th, the November non farm payroll report in the United States unexpectedly strengthened. Last month, the number of non farm workers increased by 199000, the unemployment rate dropped to 3.7%, and the monthly wage growth exceeded expectations. At the same time, as American households lowered their inflation expectations for the next year to the highest level in 22 years, US consumer confidence rebounded significantly in early December, exceeding all forecasts. The trend of gold has been further weakened, with silver approaching the bottom of the $23.00 to $23.90 range and oil prices returning above $70.
Gold dips to the integer level of $2000
The bearish pressure hit the gold price again, causing it to drop around $2000. After the release of better than expected US employment data, the situation seems to have not improved. Next week, the market will wait for the Federal Reserve's meeting statement. If gold prices continue to weaken, traders can wait for long opportunities near the 1953 USD and 200 day moving average.
Key levels worth paying attention to today:
Support level: $2000, $1950, $1900, $1850, $1800
Resistance level: $2069, $2074
Silver faces greater bearish pressure
Silver prices continue to weaken within the range of $23.00 to $23.90. There is no bullish reaction on the daily chart, so there is no confirmed signal to enter a long position. Traders will continue to wait for reactions within the $23.00 to $23.90 range, seeking opportunities to establish long positions.
Key levels worth paying attention to today:
Support level: $23.90, $23.00, $21.35, $20.00
Resistance level: $25.00, $26.00
Crude oil rebounds at $70.00
The crude oil price has experienced a phase of weakening from $77.13 to $70.00, currently showing a bullish reaction and will attempt to rebound from the level of $70.00. If the price can close above $77.13, then the situation may turn bullish. For a period of time, prices may continue to consolidate around $70.00.
Key levels worth paying attention to today:
Support level: $70.00
Resistance levels: $77.13, $80.00, $85.00, $90.00
