In the early hours of Tuesday, December 24, the Asian market saw spot gold hovering around the $2617.35 per ounce mark, struggling to maintain steady momentumFollowing a lackluster trading session during the holiday Monday, gold prices dipped thanks to a strong rebound in U.Score durable goods orders which bolstered the U.SdollarThis was compounded by a rise in the yield of 10-year U.STreasury bonds, which hit a six-month high, putting further pressure on the price of gold.

Recent data from the U.Shas shown a substantial increase in new durable goods orders in NovemberThis upsurge, particularly in machinery demand, signals a resilient U.Seconomy as we approach the year's endDespite robust consumer spending data released last week, which highlights this resilience, there lingered concerns pertaining to the incoming government’s proposed tariffs on imports that could potentially dampen economic growth in the upcoming year

Notably, consumer confidence has dipped in December, although the overall sentiment towards the labor market remains positive.

The U.SDepartment of Commerce reported that non-defense capital goods orders excluding aircraft rose by 0.7% in November following a slight dip of 0.1% in OctoberEconomists had expected a mere 0.1% increaseThis core durable goods orders figure is a closely monitored gauge of business spending plansAdditionally, the adjusted annual rate of new home sales surged by 5.9% in November to 664,000 units after being previously battered by hurricanesHowever, climbing mortgage rates associated with the rise of the 10-year Treasury yield could pose challenges in the coming yearYear-on-year, core durable goods orders saw a 0.4% increase, with shipments also climbing by 0.5% following a 0.4% increase in OctoberDespite the Federal Reserve tightening monetary policy aggressively in 2022 and 2023 to curb inflation, company investments have largely remained stable.

Turning to the analysis for gold on December 24, trading opened at approximately $2622. The gold market experienced a brief uptick during the Asian session, touching a daily high at a resistance level of $2633 before it began to retreat

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As trading proceeded into the European and American sessions, prices persistently dipped, reaching a low of $2608, a strong support level, by the end of the dayThe daily chart indicated a minor decline, and the Bollinger Bands seemed to flatten out, reflecting a phase of relative stabilityThe K-line fluctuated within a narrow range, while moving averages (MA5 and MA10) hinted at a downtrend from elevated positionsDespite these signs, the MACD energy bar began to shrink, and the KDJ indicator showed a bullish crossover.

Looking at today’s broader market, traders are advised to adopt a low-buy strategy, favoring purchasing on dips, especially as we move through the relatively quiet Christmas trading period characterized by reduced volume.

In terms of actionable insights, traders might consider entering long positions near the $2606-$2608 range, with a stop-loss set at $6.5 and a target price adjusting upward toward $2620, $2634, and $2660. Moreover, should prices approach $2590-$2592, similar long positions could be entered, targeting upward movement toward $2600-$2616. Conversely, for those looking to short the market, it could be prudent to initiate sells around $2666-$2668 with a stop-loss at $6.5, aiming downward toward $2653-$2642.

Switching focus to silver, yesterday’s trading began around $29.39, with Asian trading reflecting an upwards movement

A notable climb was observed during the European session, where prices peaked at $29.87 before succumbing to downward pressuresBy the American trading hours, silver prices continued their downward trend, closing minimally lower on the dayThe daily chart depicted a modest upward candlestick, though the Bollinger Bands displayed a downward opening trendThe K-line oscillated near the lower band, with moving averages (MA5 and MA10) beginning to show signs of downward turnsHowever, the MACD energy bar exhibited diminishing size, while the KDJ indicator suggested a bullish crossover.

For silver trading today, a low-buy approach is suggested, concentrating on bouncing off strong support levelsEntry points might include around $29-$29.25 with a stop-loss at $28.83, targeting upward movements at $29.78, $30.57, and ultimately $31. Further, potential long entries could be considered whenever prices test around $28.65-$28.77, employing a stop-loss at $28.42 and aiming for $29.42-$30. Lastly, for those considering short positions, entering around $31-$31.25 is advisable, with a stop-loss at $31.48, targeting declines toward $30.62 and $30.

Concerning oil prices, the market opened yesterday around $69.4, experiencing slight gains during the Asian session

The upward momentum continued through the European hours with a daily high of approximately $69.9 before a downward trend beganPersistent declines characterized the American session, with prices hitting a session low of $68.6 before stabilizing somewhatThe daily chart illustrated a small upward candlestick with a significant lower shadowAs per the daily analysis, the Bollinger Bands displayed a flattening trendThe K-line is currently stabilizing around the mid-bandMACD is displaying increasing bars, and KDJ indicates a bullish crossover hinting at potential upward trends.

For actionable oil trading strategies today, traders may look to buy near $68.8-$69 with a stop-loss at $68 and a target optimizing upwards toward $70.6, $73. Likewise, when examining potential entry points, any approaching $67.8-$68 offers a viable buy opportunity with a stop-loss at $67, aiming for upward levels of $69.7-$70.8. Conversely, if prices approach resistance levels around $73.8-$74, shorts can be considered there, with a stop-loss at $75 and targeting levels down to $72.5, $71, and $70.