Gold prices (XAU/USD) consolidated above $2,660 on Thursday, buoyed by a break above the 55-day Simple Moving Average (SMA) at $2,654. The surge reflects rising global bond yields as inflation fears resurface, driven by recent fiscal reforms, stimulus measures, and tariff plans announced by President-elect Donald Trump. These conditions echo the economic climate during the 2023 Silicon Valley Bank crisis, heightening concerns among traders. Market attention is focused on upcoming speeches by Federal Reserve officials following December’s Fed minutes, which signaled a cautious, gradual approach to rate adjustments in 2025. While U.S. bond yields softened slightly after hitting nine-month highs, other indicators, such as Bitcoin sell-offs and a Treasury auction yielding its highest result since 2007, added to market volatility. Technically, gold finds support at $2,654 (55-day SMA), with further levels at $2,632 and $2,612, while resistance lies at $2,680, above which a rally to $2,700 and beyond is possible. These dynamics suggest that gold’s trajectory will hinge on inflation trends, Federal Reserve actions, and broader economic developments.


