December 17, gold experienced a roller coaster market.

During the day, there was volatility, with an initial rise followed by a drop in the US market, a daily low of $4308, and a spike to $4375 before a plunge, closing with a bearish doji. Silver faced resistance at $66.5-$67 during its upward movement, and the Shanghai Futures Exchange has implemented position limits on platinum and palladium. With Christmas and New Year's approaching, market trading is light, and caution is advised against bearish pressures.

The US November CPI data came in below expectations, slightly raising the probability of the Federal Reserve cutting rates in January next year, though there are still divisions among officials; the ECB maintained its 2% interest rate, stating that the rate-cutting cycle has ended; the Bank of England reduced rates to 3.75%, indicating a slowdown in the pace of rate cuts. Despite multiple bullish supports, gold remains under pressure and struggles to break new highs; if the fundamentals shift, bears may exert pressure.

Gold Market Analysis

The lifeline for gold bulls is $4300-$4310; yesterday's movements met expectations, gaining support at this position before spiking and then plunging again.

In the short term, pay attention to the breakout situation at $4300-$4310; if it breaks down, look towards the $4270-$4250 range.

Resistance above is at $4340-$4345, with key resistance at $4355 and historical highs.

Silver Market Analysis

As of December 18, silver's annual increase has exceeded 130%, far outperforming gold, and its current market value ranks as the fourth-largest asset globally. Institutions expect it may rise to $75/ounce by year-end.

Silver is rising along the 5 and 10-day moving averages; if it retraces without breaking the averages, it can continue to be bullish, but a breakdown poses a risk of significant retreat.

In the short term, it faces resistance at $66.8-$67.2, with a focus on pullback risks. It is not recommended to chase the rise; low-position long contracts can be held, while high-position long contracts should consider reducing positions and waiting for lower-level replenishment.

Today's resistance: $66.8-$67.2, $68.7-$69; support: $65, $63.5-$64, $60-$60.5 $BTC #BinanceABCs