GOLD MARKET REVIEW 12/6

٦ ديسمبر

✔️Gold prices fell on Thursday (December 5), as US bond yields rose after the release of weekly jobless claims data, while the market awaits the official US jobs report for fresh insight into the Federal Reserve's stance on interest rate cuts.

✔️Investors' focus now shifts to the official US jobs report on December 6, which could show the US economy added 200,000 jobs in November after adding just 12,000 jobs in October, to give the market a clearer view on the interest rate path.

✔️Fed Chairman Jerome Powell said on December 4 that the US economy is stronger than expected and suggested a more cautious stance on interest rate cuts.

✔️The market is currently forecasting a 74% probability that the Fed will cut interest rates at its December meeting. Gold, which does not yield, tends to perform well in a low interest rate environment.

✔️Note: Gold is currently completely following fundamental news, especially US economic news! Bad News Gold Rises! Good News Gold Down

🥰 Trading plan:
🔼Buy Gold: 2625x
Sl: 2620
Tp: 2633 - 2640 - 2652

🔽Sell Gold: 2654x
Sl: 2659
Tp: 2648 - 2642 - 2634

🔽Sell Gold: 2665x
Sl: 2671
Tp: 2655 - 2644

🫶Note: Set SL tightly for each order, the financial market is full of risks, if you don't set SL, don't place an order.

🫶Wishing everyone a happy and joyful Thursday 🫶