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Gold

• Gold is trapped below its major daily moving averages. 
• In some ways, not much has changed for gold since December 1st. 
• To summarise, gold is benefiting from a seasonal tailwind in trade this month and in January. • Recent market action shows gold gyrating towards $1,800, but buyers are unable to maintain any push above the confluence of the key daily moving averages @ $1,791. 
• That remains a critical level for buyers to overcome in order to reclaim the $1,800 level and challenge the important trendline resistance from the August 2020 and November 2021 highs.

It’s a tricky call right now given the dollar’s resiliency in the face of the Fed’s hawkishness, but one factor working in gold’s favour is that real rates are still very much in negative territory throughout the world.” 

Gold remains in the above-mentioned situation, with the important daily moving averages visible at $1,789-93. 

Gold’s next moves will be heavily influenced by the Fed’s narrative later this week. The next significant rise in gold will depend on whether or not the seasonal tailwind is supported by fundamental and technical considerations.

Crypto

The FOMC meeting and Christmas will put a halt to cryptocurrency trading. Over the weekend, cryptocurrency prices remained relatively stable. Bitcoin did not deviate considerably from its 200-day moving average, while Ether did not deviate significantly from $4000, putting short-term traders in uncertainty. 

The total capitalization of all cryptocurrencies has remained unchanged in the last 24 hours, at 2.26 trillion. The Bitcoin Fear and Greed Index is steadily rebounding, increasing to 28 (fear) on Saturday morning from a low of 16. However, the intense panic has not caused crucial currencies to cross the red lines. 

Last week, bitcoin witnessed demand on intraday falls below $48K. Buyers’ assistance kept it from falling below a vital technical level. If the bulls give up this defensive barrier, there will be a massive avalanche of liquidation of marginal long holdings.

The price of ETHUSD is hanging around $4000, and jumps from that level are becoming less frequent in December. 

So far, Ether has resisted the sellers’ attack, holding the round level and the September highs. The fifth week of falls, on the other hand, is bad news for cryptocurrencies. The major demand drivers are speculative price increase expectations rather than corporate success as in shares. 

Investors in the two most important cryptocurrency currencies have taken a breather to examine the situation. They are looking for major indicators of a continuing bullish trend or the onset of a bear market. The markets appear to be missing new catalysts for a significant bullish rise in the main cryptocurrencies. 

This week’s financial market attention will be focused on the Fed meeting, and cryptocurrencies may be put on hold if the Central Bank’s remarks evoke a clear market reaction. Investors should also keep in mind that Bitcoin frequently makes large fluctuations during the holidays.

Plus500 

• Plus500, a global multi-asset fintech business, has added three new local payment methods: PayNow, POLi, and Google Pay. Customers on the Plus500 trading platform now have even more options for executing safe transactions. This is another another step in the company’s effort to improve the user experience. 
• These three payment options were chosen for the convenience of fund transfer and the great levels of customer service they provide. These enhancements are in keeping with Plus500’s commitment to providing localised experiences, which includes support for over 30 languages, local versions of the Plus500 website and mobile app, and access to the best financial instruments in each region. 
• Google Pay is now accessible for Plus500 clients who use the Plus500 trading platform’s Android app. For the time being, Google Pay is only available to clients in a few countries.
• Google Pay will soon be available to customers in additional areas and operating systems, according to the firm. 

• Traders may choose their chosen payment method by going to the Plus500 trading site and selecting from the numerous payment choices available. 
• In Europe, Plus500 introduced Plus500 Invest, a new share trading platform. This platform provides traders with access to a diverse selection of financial products, including the most popular stocks and ETFs. Plus500 has grown steadily over the years, thanks to the company’s best-in-class proprietary technology and rising presence among retail and professional traders in more than 50 countries and 30 languages. 

• Plus500 reported $211.4 million in sales and $128.6 million in EBITDA in the third quarter of 2021. During the quarter, the firm added 26,169 new consumers and had 166,310 active clients.

China 

Economic remarks by China’s Premier Li Keqiang 

China is capable of achieving its primary economic objectives this year 

In the face of increasing downward pressure, the government will prioritize economic growth stabilisation next year. 

I made a few passing remarks. However, it confirms the view that, despite their larger focus and shift toward ‘shared prosperity,’ China would not allow its economy to be overly disrupted.