A notably larger drop in the U.S. PCE inflation, the preferred measure of inflation by the Fed, led to stronger market movements. Among the gainers is gold, along with a further decline in yields. The probability of a Fed rate cut in March has risen above 80%!
This provides the potential for the highest historical close in the gold market. Previously, gold closed highest on December 1st at a price of $2070.75 per ounce. Then on December 4th, there was a rally to nearly $2150, but ultimately gold closed below $2030. Gold has slightly pulled back below $2070 at the time of writing this analysis, but with the start of the session on Wall Street in the USA, an increase in volatility cannot be excluded.

Source: xStation5
BREAKING: Massive increase in US oil reserves!
Market wrap: Oil gains amid US - Iran tensions 📈 European indices muted before US NFP report
📈 Gold jumps 1.5% ahead of NFP, hitting its highest level since Jan. 30
Silver rallies 3% 📈 A return of bullish momentum in precious metals?