After losing more than 4% in the last week of the year, Gold (XAU/USD) gathered bullish momentum as trading conditions normalized. Although XAU/USD entered a consolidation phase following the rally seen earlier in the week, it managed to register weekly gains.
The US dollar continues to climb against the yen, with carry trade momentum and resilient US data pushing USD/JPY closer to the key 158 resistance level.
The British pound remains resilient against the yen, supported by interest rate divergence and carry trade momentum, with 215 as a long-term upside target.
Bitcoin continues to build a potential bottoming pattern, with buyers defending key support and eyeing a breakout above $96,000 to confirm trend reversal.
The Australian dollar remains near multi-month highs despite Thursday’s dip, supported by China’s recovery and expected RBA tightening as markets eye NFP.
Gold prices bounced off key $4400 support on Thursday, with buyers stepping in ahead of the NFP report, reinforcing the bullish longer-term trend.