12.18 Gold Morning Review + Yesterday's Market Recap: Dovish Support Continues Strong Momentum, Bulls Aim for Historical Highs
Yesterday's Market Recap
Yesterday, gold opened at $4303.1/oz, briefly pulled back to $4301 in the morning before starting a strong upward trend, with the daily high reaching $4349.5 and closing at $4338.5, ultimately recording a medium bullish candlestick with a slightly long upper shadow. From the candlestick pattern perspective, the price has maintained a high-level operation after breaking through the previous consolidation range, further supporting a bullish trading mindset for the day.
Fundamental Analysis and Today's Focus
On the fundamental side, yesterday's market core driver came from the Federal Reserve's related dynamics: a joint survey by the Fed showed that the disturbance from tariff policies on business operations continues to exist, with market expectations for next year's price increase stabilizing at 4%; Fed Governor Waller released clear dovish signals, indicating that current monetary policy is still in a restrictive range, with further rate cut space available, and employment market data supports potential rate cut actions, with current interest rates 50-100 basis points above neutral levels. This series of dovish guidance directly pushed the dollar index down, injecting strong momentum for gold and silver prices to strengthen.
Operational Suggestions
In terms of operational strategy, aggressive traders can directly place long positions around $4310, while conservative investors may wait for opportunities to enter around $4307, uniformly setting stop losses below $4303 to control risk; in terms of targets, sequentially look at $4335, $4342, and the $4350-4354 pressure range; if subsequent market successfully breaks through this pressure zone, it is expected to launch an attack towards the historical high of $4380.
