Inflation cooling continues to pressure the US dollar downward Gold remains strong but no longer with the upward momentum

Inflation cooling continues to pressure the US dollar downward

Gold remains strong but no longer with the upward momentum

On December 25th, spot gold was closed for Christmas, and hardware prices closed at $2052.89 per ounce last week, with a weekly increase of about 1.7%, marking the second consecutive week of gains. FXEmpire analysts predict that with the support of the three major bullish factors, gold prices are expected to rise above $2500 next year, indicating significant upward potential in terms of technology.

According to the latest market news analysis, Angola may increase its oil production after exiting OPEC on Friday (December 22). However, good news for the US economy and attacks on ships in the Red Sea region have led to hundreds of ships changing their routes, increasing delivery costs and causing oil prices to fall before the Christmas holiday weekend. Despite a rise of about 3% in oil prices this week, crude oil prices still hit their largest weekly increase in two months.

The final data released by the University of Michigan last Friday showed that the US consumer confidence index for December was 69.7, with market expectations and previously announced initial values of 69.4.