In recent trading sessions, the market's fluctuations have been relatively minimal, with no significant breakthroughs in either directionMonday’s downward movement and Tuesday’s slight pullback both exhibited declining trading volumes, indicating a cautious sentiment prevailing in the marketThe gold prices reached a high of 2665 but retreated sharply back, closing approximately at 2650 after hitting a low at 2641. This volatility demonstrates that traders may have unrealistic expectations regarding both bullish and bearish movementsMoving forward, there might be a chance to see clearer trends as the market absorbs upcoming economic dataOn the other hand, silver has shown limited strength, oscillating around the 30 mark, reflecting a lack of conviction among investorsFor now, the focus will lean towards data releases before drawing any conclusions.

The uncertainty around policies coupled with geopolitical tensions has once again propelled gold prices higher, nearing the three-week peaks established the previous Friday

However, robust performance in the U.Sservices sector and an increase in job openings reduced the likelihood of drastic interest rate cuts by the Federal ReserveThis led to a strengthening dollar index, pushing the ten-year U.STreasury yield to heights not seen in over six months, which in turn curbed gold's gains, ultimately closing near lower levelsAs the trading day unfolds, significant attention will be given to the January ADP employment figures—often referred to as the 'little non-farm payroll'—and the Fed's meeting minutesAdditionally, remarks from Fed Governor Waller at the OECD meeting regarding the economic outlook will be noteworthy.

The dollar has been fluctuating around the 108.5 mark, with limited pressure from bulls and no significant counterattack from bears as traders watch for data outcomes

• US Stocks Tumble! Tech Giants Plummet!
• When Will the Dollar Storm Subside?
• Navigating A-Share Swings with Dividend ETFs
• Rupee Under Mounting Selling Pressure
• How Long Will the Wind Favor Resource ETFs?

The price movement in gold this week has exhibited restless highs and lows, showcasing wild swingsOn Monday, gold peaked at 2648 and dipped to 2614, while on Tuesday it surged up to 2665 and sank to 2641. Traders optimistic about the direction could reap substantial profits, although those who misjudged the moves might face considerable lossesSteadfast in their approach, some traders managed to capitalize on the high volatility, with shorts executed at 2645 and 2662. Given the midnight fluctuations, gold settled around 2650, leaving its future movements uncertainThe potential for another rise to 2665 or a drop below 2615 lies ahead; thus, a careful observation of market tendencies is imperativeAnalyzing technical charts shows intermittent patterns with the daily candle indicating mixed signals near the Bollinger Bands' midlineAny conclusive results await the establishment of consecutive bullish or bearish days, suggesting that traders keep an eye on Wednesday’s developments for clarity.

In contrast, the silver market has exhibited stronger performance compared to gold, with prices reaching around 30.3 on Monday before experiencing a slight drop, settling at 30. This relative strength indicates a challenging environment for silver’s downward movement, potentially leading to a period of sideways trading

Thus, under current conditions, remaining in cash and awaiting potential signals for strength or weakness might be prudent as traders navigate the cycle.

Following a round of adjustments, crude oil has found support near 73, resisting further declinesWith prices climbing back to 74.5, this trajectory suggests a strong bullish trendIn this context, it would be unwise to attempt to guess the peak prices; instead, expectations should shift to observing the potential for levels around 76 to 77.5 aboveCurrent support sits at 73.8, and should the price dip to this support zone during Asian or European sessions, taking long positions would be advisable.

On the futures front:

2: Rontong Gold

Rontong Gold reached a high of around 627 on Tuesday but faced a corrective pullback, settling close to 624 by the evening session

Despite this retreat, the outlook remains bullish as the key resistance level at 627 has not been breachedAny short positions should be short-term guesses, as deeper corrections might not be imminent until later in JanuaryTherefore, traders who have shorted at 627 are advised to set targets closer to 622 for potential gains.

4: Fuel Oil 2505 Contract

The bullish trend in fuel oil is distinctly evident, with the focus now shifting towards entry points for long positionsWith the previous support level pegged at 2950, the current one rises to 3000. The recent breakthrough beyond 3200 targets the next possibility around 3400. If traders possess existing long positions, they should continue holding while those without are encouraged to wait for pullbacks to enter trades.

5: Soda Ash 2505 Contract

Soda ash has shown minimal fluctuation recently, with an initial rise followed by a decline, signaling continued weakness in the market with a lack of liquidity