Analysis of today's market

As market participants adjust to a more cautious outlook for U.S. interest rates, gold prices have remained relatively stable around $2,611. Additional information suggests that the U.S. dollar will remain strong, benefiting from the Federal Reserve's expected slowdown in the pace of interest rate cuts next year. Fed officials have indicated that interest rate cuts may be fewer than previously anticipated, with the federal funds rate projected to reach 3.9% by the end of 2025. This shift occurs amidst a slowdown in the inflation process and the uncertainty surrounding President-elect Donald Trump's immigration, trade, and tax policies.

Gold opened at 2617 and has risen to a high of 2622 and fallen to a low near 2614 since the start of trading. Keep an eye on the resistance levels at 2640-2650-2660. If these levels are not breached, a test of 2600-2590-2580 may be in sight.