As the end of the year approaches, the economic situation in the United States is complex. On the one hand, data such as new orders for key durable goods, orders for non defense durable goods, and shipments of core durable goods improved in November, and corporate investment was maintained, demonstrating a solid economic foundation. But there are also hidden concerns. The Trump administration plans to impose tariffs, causing a sharp drop in consumer confidence in December. However, the labor market situation is optimistic, with an unemployment rate of 4.2%. In terms of macroeconomic expectations, the Atlanta Fed expects GDP to grow by 3.1% in the fourth quarter. The Fed cut interest rates by 25 basis points last week and is expected to reduce the number of rate cuts and raise inflation forecasts in 2025. In the market, the dollar index rose, and the yield of 10-year treasury bond bonds rose. There have been new developments and variables in the geopolitical situation. On December 23rd, there was progress in negotiations between Israel and Hamas regarding the release of detainees. However, that evening, Israeli forces killed senior members of Hamas, and there are still key issues to be resolved in the ceasefire negotiations between the two sides. In short, the direction of the US economy is uncertain due to multiple factors and the complex geopolitical situation requires continuous attention.

In terms of gold, the overall gold price showed a trend of rising and falling on Monday, with the highest price rising to 2633.16 and the lowest falling to 2608.04, closing at 2612.56. Looking back at the details of the gold market performance on Monday, the price fluctuated and rose during the Asian session, but did not continue during the European session. Instead, the price fell again under pressure and mainly fluctuated slightly after the US session. The day ended in a major bearish trend. In response to yesterday's reminder to pay attention to the 4-hour support and daily range, the price has not tested the daily support for the first time, and has not broken through the 4-hour support for the second time. Therefore, we are currently defining a volatile pattern. The price will only be further under pressure after breaking through yesterday's low point of 2608. Otherwise, we need to be cautious of testing the daily support again. Currently, the daily resistance is in the range of 2643-2644, and the 4-hour support is in the 2608 area. At the same time, we have entered Christmas and the market trading is light. Everyone must pay attention to market risks and only lay out at key positions in operations. Do not chase orders.

Gold oscillates in the range of 2608-2644, breaks the level and then follows