Gold rose by $40 during the day, and silver prices rose sharply

Analysts Adam Button said that usually gold has a seasonal tailwind between December and January, and now there is a fundamental tailwind. Over the weekend, the People's Bank of China resumed buying gold for the first time in six months, after initially falling by $50 when China stopped buying, and then falling by about $100 in the following days. Today, gold has pulled up by $40 during the day, breaking through $2,670 an ounce. And technically speaking, breaking through the December high is good news, suggesting that gold prices may test the high of $2,721 at the end of November again. A dovish central bank decision between now and Christmas will definitely help, and to achieve this in the United States, we will need a CPI report on Wednesday that is in line with expectations. Meanwhile, silver performed better than gold, surging 4% during the day to its highest level since early November.