The current trajectory of gold prices remains characterized by a lateral movement, oscillating within the confines of a defined range. Market dynamics depict a recurrent alternation between upper and lower boundaries. Anticipating an accumulation phase within this range, my analysis envisions a potential descent to reevaluate the underlying support level, subsequently breaching the ascending channel. Noteworthy is the significance of lateral price movements at critical thresholds, suggesting an imminent downward trajectory with a retest of the pivotal support at 2000. Forecasts align with a specific support level residing at 2012.27.

Shifting focus to USDJPY, a substantial downturn unfolded in December 2023, witnessing a substantial 3.84% decline. The rapid descent transpired over a concise 15 trading hours, plummeting from 147.400 to 141.700. The aftermath anticipates a sustained dovish stance by the central bank to avert abrupt surges in bond yields. Contrary to assumptions linking Japanese policy to global rates, the analysis perceives minimal spill-over effects as Japan’s rates ascend. Noteworthy is the transient surge in the 10-year US Treasury yield, momentarily escalating by 7 basis points to 4.17%, only to retrace to 4.14%.

A subsequent narrative unfolds in the Treasury market, with a notable retreat of over 5 basis points in the 10-year Treasury yield, marking a nadir since early September. The US ISM Services PMI exceeded expectations, juxtaposed against a decline in JOLTS Job Openings to levels last seen in March 2021. Concurrently, productivity surged by 5.2%, surpassing both initial estimates and Dow Jones expectations at 4.7% and 4.9%, respectively. However, concerns arise from ADP data signaling a cooling job market, revealing an increase of 103,000 private payrolls in November, falling short of the Dow Jones estimate of 128,000.