[GVI Forex 2]

Monday snapshot

USD down except vs jpy (which held a test of resistance)

Stocks lower

BTCUSD down (below 100k)

Gold ip

US bond yields higher

News: All about China stimulus

[GVI Forex 2]

XAUUSD 4 HOUR CHART –    Tight range

Gold so far not benefiting from geopolitical wildfires

Treat current price action as consolidation range  as long as it trades within 2620=66

[GVI Forex 2]

The euro fell due to political uncertainty in France, where the government faces a no-confidence vote, while the US dollar strengthened ahead of a key week for US interest rates. The Federal Reserve’s decision on December 18 is expected to impact markets, with traders predicting a 66% chance of a quarter-point rate cut. Global shares were lifted by tech stocks, and oil prices rose after Chinese manufacturing data, while gold sank under pressure from the strong dollar.

Euro slides, pressured by French political uncertainty

[GVI Forex 2]

Newsquawk US Open

USD knocked by a stronger JPY, EUR unreactive to Flash HICP

Good morning USA traders, hope your day is off to a great start!

Here are the top 5 things you need to know for today’s market.

5 Things You Need to Know

European bourses near unchanged while US futures are modestly firmer post-Thanksgiving

USD knocked by a stronger JPY. EUR unreactive to Flash HICP

Fixed benchmark in the green, OATs in focus awaiting a Le Pen decision

Crude diverges given the lack of settlement but benchmarks are at the lower-end of c. USD 1/bbl parameters

Metals in the green, gold gleans support from the USD and punchy language around Lebanon

Try Newsquawk for 7 Days Free

[Belgrade Bobby]

XAUUSD – Gold Daily

Supports : 2625.00 , 2605.00 & 2565.00

Resistances : 2655.00 , 2720.00 & 2760.00

For Gold to start Up again we need today’s close above 2655.00

Any close below 2640.00 would be bearish.

Major Support at 2565.00

Weekly close above 2685.00 would be very Bullish

[GVI Forex 2]

There are some articles that stand the test of time. The following is an article I wrote 10 years ago that is worth reposting. The article asks a question that is as relevant today as it was back then

Is Gold Becoming the Next Major Currency?

 

[Belgrade Bobby]

Nio Inc.

Bad news boys and girls – our little NIO lost footing and now is on the road to around 3.60

Bad mouthing by Goldman Sachs in previous days took it’s toll…

However, there are some brighter news coming in :

Market Chatter: NIO Expects Profit, Double Sales in 2026

[Belgrade Bobby]

NIO Inc.

NIO Cut to Sell From Neutral by Goldman Sachs

NIO stock has been stuck in reverse gear the past few months and the selling could continue into 2025, Goldman Sachs analysts said Monday.

[GVI Forex 2]

XAUUSD 4 HOUR CHART – Safe haven bid

Someone is taking the threat of Ukraine-Russia escalation seriously and GOLD had been a beneficiary.,

Resistance 2704-10

Support  2665-75

[GVI Forex 2]

I then quickly scan a gold chart to see if it is acting as a risk indicator.

XAUUSD 4 HOUR CHART – Risk indicator

XAUUSD acting as a risk off indicator and getting closer to its next target at 2675.

[GVI Forex 2]

Risk off (weaker stocks) day so far.. impacting bond yields and boosting the JPY.

GS, which forecast gold rising to $3000 by end of 2925 is calling for S&P 6500 next year.

[GVI Forex 2]

Risk off day so far.. impacting bond yields snd boosting the JPY.

GS, which forecast gold riding up $3000 by end of 303( is calling for S&P 6500 next year.

[GVI Forex 2]

Today is like a mirror image but to a leswer extent of Friday

Today USD is down except vs JPY, stocks up, Gold up, etc

[GVI Forex 2]

GOLD:

GS stands by its forecast of $3000/oz by the end of 2025

[GVI Forex 2]

JP, good question about Bitcoin and Gold.

In the case of Bitcoin, it may be a matter of following the path of least resistance with Trump on crypto’s side.

As for Gold, it can be explained technically or maybe some funds switching from gold into crypto.

[Mtl JP]

EXACTLY WHAT IS GOING 0N :

XAUUSD DAILY CHART – WATCH 2600
BTCUSD – Bitcoin Weekly

What is GOLD’s heave and BTC’s volcanic run reflecting in society’S relative fear and greed themes ?

[GVI Forex 2]

XAUUSD DAILY CHART –  WATCH 2600

Reversal of fortune: Bitcoin up, Gold down

If I had to pick a target for the XAUUSD retreat it would have been 2600, which has been tested as the retreat from the record high continues. Low so far 2595.

So 2600 now becomes the pivotal level that needs to become support or next risk is for another $50-55 on the downside.

The straight line move down has left resistance far away so using other time frames, 2626/43/75 are some levels to watch.

[Belgrade Bobby]

XAUUSD – Gold – Daily

Support – 2605.00

Resistances : 2650.00 , 2675.00 & 2730.00

This one and only support separates gold from reversing and going for 2300.00

[michael Calif]

Option Profile setting a Low in Gold this morning    :gtwo3

[Belgrade Bobby]

Goldman Sachs Groups Inc. – GS
This is more then Space X launch….this is Warp 9 – Deep space and beyond…
Only question is once it comes to landing…is it going to be soft or disastrous..
Enjoy it while it lasts….when the morning comes many will wake up with a terrible headache