Market Performance - US stocks experienced an upward trend in midday trading, with the S&P 500 reaching a record high above 6,900, indicating a positive sentiment heading into the Christmas holiday [1][2] - The Dow Jones Industrial Average led the gains, increasing by 0.5%, while the S&P 500 and Nasdaq Composite rose by 0.3% and nearly 0.2%, respectively [1] Economic Indicators - The US GDP growth for the third quarter was reported at 4.3%, significantly higher than forecasts, driven by strong consumer spending [3] - Unemployment claims decreased for the second consecutive week, suggesting a nominally improving economy, although consumer confidence remains weak [5] Federal Reserve Outlook - The GDP data has led to a reduction in expectations for a January rate cut by the Federal Reserve, with only slightly more than 13% of traders anticipating this outcome [4] - Despite the current outlook, most traders still expect two rate cuts by the end of next year, reflecting ongoing divisions within the Federal Reserve [4] Commodity Market - Precious metals saw significant gains, with gold reaching an all-time high above $4,500 per ounce, while silver also advanced to a record [6] - In contrast, platinum experienced a decline of over 3% [6] - Oil prices stabilized after a recent increase [6] Company-Specific News - Intel managed to limit its losses to around 1% after reports indicated that Nvidia had halted a test involving Intel's fabrication process for advanced chips [6]

Core Insights - Gold prices have declined to a three-week low, influenced by optimism surrounding a US-China trade deal, with bullion futures dropping over 1% to approximately $3,970 per troy ounce [1] - The recent decline follows a significant rally earlier in the year, where gold surged from $2,700 to around $4,350, marking the strongest rally in over 40 years [2] - Analysts remain bullish on gold, with expectations of continued Federal Reserve rate cuts supporting the precious metal's value [3] Price Movements - As of Tuesday, gold futures are up roughly 43% since the beginning of the year [3] - Current gold prices have fallen below the $4,000 level, reaching a three-week low [7] Analyst Predictions - UBS analysts project a near-term rebound for gold, forecasting a price of $4,700 by the end of Q1 2026 [3] - Bank of America analysts maintain a "long gold" recommendation, predicting a peak of $6,000 per ounce by mid-2026 [5] - Goldman Sachs has revised its forecast for gold to $4,900 per troy ounce by the end of next year, an increase from a previous estimate of $4,300 [6] Market Sentiment - Market analysts note that the current sell-off in gold has been relentless, with expectations of a potential sharp reversal when support is found [2] - The combination of macroeconomic factors, fundamentals, and momentum-driven elements is expected to support precious metals despite potential volatility [4]