The financial markets have been experiencing volatility lately, particularly in the precious metals sectorDespite the recent Consumer Price Index (CPI) data release on Wednesday, which typically is a significant market moving event, gold and silver did not show much responseThis indicates a certain resilience or underlying strength in these marketsGold has continued its upward trajectory, reaching around $2725, having gained $50 in a single day on WednesdayIn contrast, silver has remained more subdued, oscillating around $32 without significant movementAnalysts are noting that Thursday might be pivotal, as gold, after three consecutive days of gains, could be setting up for a market correction.

Turning to other commodities, crude oil continues to maintain a bullish trend, now surpassing the $70 markObservations point to potential targets of $71 and $73 in the following trading days

The market appears to be reacting to various factors, including geopolitical stability, which has a wider impact on energy prices.

The CPI data released for November showed a modest increase of 0.3% month-over-month and an annual growth rate of 2.7%. Comparably, the growth rate was slightly more subdued than the 2.6% recorded in OctoberWhile inflation is stabilizing, this has led to increased expectations for a possible interest rate cut by the Federal ReserveInvestors are also keenly awaiting data on initial jobless claims, as this could provide further insights into the health of the employment sector and potential economic shiftsThe market is particularly sensitive to updates related to Trump’s political maneuvers and any developments regarding international tensions.

As the dollar and gold are moving in tandem, the dollar has seen an uptick, reaching close to 106.7, just shy of the critical resistance level at 108. There were corrections observed around midnight, yet the overall trend remains bullish

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The market players are scrutinizing whether the dollar can sustain ascending past the 108 barrier before next week's significant data releasesThe response of gold to the CPI data has not drastically altered its upward trend, although it briefly touched $2722 before cascading down to $2700—indicative of market corrections following earlier surgesWhat is notable is that on Tuesday, the divergence between futures and spot prices led to an abrupt drop in spot pricing, while Wednesday saw profit-taking and a retreat from earlier highs.

Technically speaking, gold appears to be testing its resistance levels under the upper band of the Bollinger Bands, with daily candles indicating downward pressure if selling intensifiesIf the instrument continues to drop throughout the European and American sessions on Thursday, it may close with a bearish candle, solidifying the notion that the week’s peaks might have been reached

Analysts foresee potential declines to earlier support levels at $2680 or $2630, especially if the market turns decisively bearishDuring the H4 cycle, keen attention is paid to the continuity of any downward trends; the initial downturn could mark the onset of bearish momentum.

For silver, despite gold's significant increases, it has been unable to establish higher price points, remaining stable around $32. The market sentiment for silver suggests an opportunity to short at an upper resistance level of $32.2, with a cautious eye on $32.5 as a crucial breakpointShould effective downward movement occur, the next levels to watch are $31 for potential support and further bearish activity beyond that pointTraders are anticipating constructive volatility in silver, with evaluations extending into Friday and potentially next week.

Crude oil's direction has become increasingly clear, with sustained upward momentum since the buying opportunities were identified last week