On Thursday, November 28, the spot price of gold experienced a slight increase, trading at $2637.67 per ounce, reflecting a modest rise of 0.07%. The market saw a dip earlier in the day, with gold prices falling close to $2620. However, bolstered by a surge in risk-averse sentiment and heightened expectations surrounding adjustments to Federal Reserve policies, gold was able to recover and make its way back to the day's peakCurrently, the gold market is navigating through a complex web of influences, including the outlook on Federal Reserve policies, fluctuations in macroeconomic data, and the persisting backdrop of geopolitical risks.

The anticipation surrounding Federal Reserve policies has significant implications for the movement of the U.SdollarRecent American economic data showcased robust performance, with the GDP in the third quarter showing an annualized growth rate of 2.8% and consumer spending surging by 3.5%, far exceeding market forecasts

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Concurrently, the year-on-year growth of the personal consumption expenditure (PCE) price index hit 2.3%, while the core PCE price index rose by 2.8%, indicating ongoing inflationary pressuresThis data may urge the Federal Reserve to adopt a more cautious stance in its rate decision in December, potentially cooling market expectations for further rate cuts.

Adding to the dynamics, the yield on U.S10-year treasury bonds recently bottomed out but has since rebounded, offering support to the dollarWhile the dollar briefly softened due to prevailing risk aversion, the uptrend in yields and stable macroeconomic figures have helped stabilize the dollar index, thereby curbing upward momentum in gold pricesNevertheless, the dominance of risk-averse sentiment cannot be disregardedAnxiety surrounding possible new tariff policies proposed by the U.S., compounded by the ongoing tense geopolitical situation, provides vital support for gold

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This showcases that even though a stronger dollar might exert pressure on gold, the metal's safe-haven attributes are likely to continue attracting capital inflows in the short term.

Noteworthy analysis from leading institutions suggests that the amalgamation of these factors could drive market capital allocation away from risk assets and towards safe havens, further bolstering gold pricesLooking into the technical aspects, gold has displayed fluctuations around the $2630 per ounce levelEarlier in the Asian trading session, gold encountered resistance in the $2638-$2639 range, failing to breach the critical 100-period exponential moving average, which signifies persistent upward pressure in the near term.

Resistance levels for the day are identified at $2658 and within the $2677-$2678 rangeA breakthrough in these zones may signal the end of the recent retracement trend, paving the way for bulls to target the psychological barrier of $2700. On the contrary, if gold fails to maintain the critical support at $2600, it may face further downward pressure, increasing the likelihood of probing lower levels such as $2570 (in accordance with the 100-day simple moving average) or even the monthly low of $2536. Presently, oscillators indicate weak signals on both hourly and daily charts, emphasizing that the market requires more definitive breakthroughs.

Given the low trading volume caused by the U.S

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Thanksgiving holiday, the short-term gold market may exhibit cautious fluctuationsHowever, this lack of robustness in transaction volumes could amplify price volatility while simultaneously prompting investors to pay closer attention to critical economic data and Federal Reserve meeting minutes coming up next week, in order to ascertain clear directional trends.

In summary, the short-term outlook for gold suggests a potential for oscillation as bulls and bears contest for dominanceStrong U.Seconomic data and a rising dollar may pose challenges for gold, yet the underlying demand for safe-haven assets and market speculation about potential Federal Reserve rate cuts continue to provide support for the precious metalThe critical question lies in whether gold can surpass the immediate resistance at $2638-$2639 and maintain support at $2600, which will determine the extent of any further correction.

When we extend the timeframe for viewing the gold market, its trajectory resembles that of a vessel navigating through tumultuous waters, heavily swayed by myriad factors

• Factors Influencing Energy Futures Market
• Trends in Financial Technology Development
• Trends in Capital Flows in Emerging Markets
• Meeting the Needs of Foreign Enterprises
• Applications of Supply Chain Finance

The performance of the U.Seconomy acts as a pivotal “helmsman”; a solid growth trajectory with ample employment and vigorous consumption could diminish gold's allure as a safe haven, while economic weakness could spur demandThe direction of Federal Reserve policies serves as another wind indicator; decisions regarding interest rate hikes or cuts directly influence the flow of capital, impacting the balance of supply and demand for goldOn the other hand, geopolitical affairs resemble hidden reefs; escalating regional conflicts and international power struggles can trigger investor migrations toward gold, pushing prices upwardTherefore, it is crucial for investors to keep a vigilant eye on critical economic data unfolding over the coming weeks, such as non-farm payrolls, inflation indicators, and Federal Reserve meeting minutesUnraveling these elements may provide critical insights to determine whether existing market equilibrium will be disrupted, leading to a potential shift in the dominant forces within the gold market.