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1. The three major U.S. stock indexes closed slightly lower: the Dow Jones Industrial Average fell 0.45% to 47,739.32 points, the S&P 500 fell 0.35% to 6,846.51 points, and the Nasdaq Composite fell 0.14% to 23,545.9 points. 2. The three major European stock indexes closed mixed: the German DAX rose 0.07% to 24,046.01 points, the French CAC40 fell 0.08% to 8,108.43 points, and the UK FTSE 100 fell 0.23% to 9,645.09 points. 3. US Treasury yields rose across the board. The 2-year Treasury yield rose 1.68 basis points to 3.575%, the 3-year Treasury yield rose 2.55 basis points to 3.610%, the 5-year Treasury yield rose 3.67 basis points to 3.746%, the 10-year Treasury yield rose 2.92 basis points to 4.164%, and the 30-year Treasury yield rose 1.11 basis points to 4.802%. 4. Crude oil transport has resumed at the Lukoil West Qurna 2 oil field storage facility in Russia, with prices at $58.85 per barrel; Brent crude oil futures fell 1.98% to $62.49 per barrel. 5. International precious metals futures generally closed lower. COMEX gold futures fell 0.54% to $4219.90 per ounce, and COMEX silver futures fell 0.94% to $58.50 per ounce. 6. Most London base metals fell. LME zinc rose 1.05% to $3,130.50/ton, LME copper rose 0.47% to $11,675.00/ton, LME lead fell 0.20% to $1,998.50/ton, LME nickel fell 0.37% to $14,885.00/ton, LME aluminum fell 0.38% to $2,886.50/ton, and LME tin fell 0.67% to $39,800.00/ton.US President Trump: Mexico continues to violate our comprehensive water treaty. Due to Mexicos failure to fulfill our treaty obligations, it still owes the United States more than 800,000 acre-feet of water.On December 9th, a new social media platform filed an application with the U.S. Patent and Trademark Office to cancel the "Twitter" trademark so it could take over. The company claims that Elon Musks X Inc. has abandoned these trademarks. Operation Bluebird, a Virginia-based startup, filed a petition on December 2nd seeking permission to use the words "Twitter" and "tweet" on its competing social platform "twitter.new," and has already applied to register the "Twitter" trademark. Musk acquired Twitter for $44 billion in 2022 and renamed it X. Operation Bluebird stated in its filing that X Inc. has "completely removed" the Twitter brand from its products, services, and marketing. Musk posted on the X platform in 2023 that the company would "say goodbye to the Twitter brand and gradually say goodbye to all the birds (Twitters original logo)."European Commission President Ursula von der Leyen: In the long run, it is essential to ensure the security of Ukraine and make it the first line of defense for our alliance.European Commission President Ursula von der Leyen: Ukraines sovereignty must be respected.

Gold Prices Trend Forecasts 2024

TOP1 Markets Analyst

Jan 16, 2024 17:11

According to the latest analysis by Greg Shearer, head of global commodities research at JPMorgan Chase, the outlook for the gold market is promising, with the average gold price expected to reach approximately US$2,175 per ounce in the fourth quarter of 2024. He believes that the U.S. central bank may begin to lower interest rates in mid-2024, and once the U.S. economy experiences a recession, gold will have greater room to rise. The weaker the U.S. economy is, the deeper the rate cuts will be, which will provide stronger support for gold. Sourcenia is a review portal of sourcing best manufaturers


French Bank Wealth Management's latest bi-weekly report: Gold is bullish! The central banks of emerging markets are rushing in, the US dollar is weakening, and real yields are falling. These are all bullish factors. The price of gold is expected to climb to between US$1,950 and US$2,050 per ounce.


In a recent interview with the media, Pierre Lassonde, the honorary chairman of the French Nevada Mining Company, boldly predicted that the U.S. dollar will weaken in 2024, and gold will usher in a wave of gains. He said the U.S. dollar and gold move in opposite directions, so a peak in the U.S. dollar means gold is bullish. He believes this is an important reason why he is optimistic about gold prices in 2024.