GOLD
Gold price declined to $2,652 per ounce on Friday after hitting a five-week high last week, primarily due to a stronger US dollar. However, gold remains on track for a modest gain, fuelled by expectations of a Federal Reserve rate cut at its December 17–18 meeting.
The year has been strong for gold, supported by easing monetary policies, central bank buying, and safe-haven demand. Analysts believe the recent dip may be short-lived, with prices likely to rise further.
Market participants are closely watching Fed Chair Jerome Powell’s commentary for signals on monetary policy in 2025, particularly in light of potential inflationary pressures from President-elect Donald Trump’s proposed tariffs. A stronger US economy and reduced rate cut prospects in 2024 may temper gold’s upward momentum.
XAUUSD (H4). Over the past 20 trading days, gold has consolidated within a range between the demand zone at $2,620.00 and the supply zone at $2,720.00. Price movement in December is expected to trend downward, presenting opportunities for short trades within this range.
AMAZON
Amazon CEO Andy Jassy is streamlining operations by cutting middle management roles to increase efficiency, aiming for a 15% rise in the ratio of individual contributors to managers by early 2025. Analysts estimate this could save $2–4 billion and lead to 14,000 managerial cuts.
This reflects a broader trend where companies embrace leaner hierarchies, driven by AI, automation, and a younger workforce's preference for autonomy. While boosting agility and cost savings, the shift raises concerns about leadership and employee well-being. Amazon’s restructuring is seen as a model for adapting to a competitive, tech-driven future.
AMZN (Daily). Over the past 5-months in 2024, Amazon has reclaimed its position at the top. Despite following a bullish trend, the stock price appeared overheated last week. We anticipate a correction, with support levels likely forming around 200.00 to 215.00, aligning with previous tops.
Fullerton Markets Research Team
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