张尧浠：美降息落地仍存宽松前景、金价反弹多头动力加强

Core Viewpoint - The recent interest rate cut by the Federal Reserve has led to a bullish outlook for gold prices, with expectations of further easing in the future, which strengthens the momentum for gold to rebound towards resistance levels around $4260 and potentially $4340 [1][5]. Price Movement - On December 10, gold opened at $4207.69 per ounce, fluctuated within the range of $4188 to $4205, and reached a low of $4181.85 before rebounding to a high of $4238.49, closing at $4228.35, marking a daily increase of $20.66 or 0.49% [3]. - The daily trading range was $56.64, indicating significant volatility in the market [3]. Federal Reserve Impact - The Federal Reserve cut interest rates by 25 basis points, which initially caused a dip in gold prices. However, the announcement of a $40 billion short-term bond purchase and the lack of clear guidance on future rate hikes were interpreted positively by the market, enhancing expectations for further rate cuts in January [5][9]. - Market sentiment was further bolstered by President Trump's criticism of the Fed's rate cut being too small, suggesting a more dovish future for monetary policy [5]. Technical Analysis - Monthly and weekly charts indicate a strong bullish trend for gold, with the price recovering most of the previous month's losses. A breakthrough above $4400 is necessary to open further upside potential, while failure to do so may lead to a consolidation phase [7][9]. - The daily chart shows gold trading above short-term moving averages, with expectations to test resistance levels around $4265, and if sustained, could lead to further gains towards $4350 or higher [9]. Support and Resistance Levels - Key support levels for gold are identified at $4220 and $4210, while resistance levels are at $4260 and $4280 [10]. - For silver, support is noted at $61.60 and $61.20, with resistance at $63.00 and $63.60 [10].