Gold slipped under pressure from a strengthening U.S. dollar and climbing Treasury yields as investors focused on the Federal Reserve’s final policy meeting of the year with growing expectations of a gradual pace of rate cuts in 2025.
The Gold dipped a slight 0.2% against the Dollar in the last session. The RSI is giving a negative signal.
Support: 2608.8 | Resistance: 2685.3
The U.S. dollar strengthened against major currencies following better-than-expected retail sales data that showed underlying economic momentum and as markets braced for interest rate moves from the Federal Reserve and other central banks.
Investors have poured a record $600 billion into global bond funds this year, taking advantage of some of the highest yields in decades ahead of an uncertain 2025. Dwindling inflation has finally allowed central banks to lower interest rates, pushing investors to lock in the relatively high yields
Exchange operator Nasdaq is on track to beat the New York Stock Exchange on listings for the sixth straight year in 2024, as Wall Street looks for a bumper crop of initial public offerings in 2025. Companies raised approximately $22 billion across 160 initial public offerings at Nasdaq in the first 11 months of this year.
Cryptocurrency investors have not halted their purchasing spree as Bitcoin set new highs and crypto investment products hit their 10th consecutive week of inflows. Digital asset investment products saw another $3.2 billion of inflows in the trading week of December 9–13, crypto investment firm CoinShares reported
A banner year for U.S. stocks gets one of its last big tests with the coming week’s Federal Reserve meeting, as investors await the central bank’s guidance on interest rate cuts. The Nasdaq Composite index breached 20,000 for the first time ever in the past week, another milestone for equities in a year during which the tech-heavy index has gained 32% while the S&P 500 has risen about 27%.
