Weekly Outlook: XAUUSD, #SP500, #BRENT | 5 December 2025
XAUUSD: BUY 4220.00, SL 4175.00, TP 4355.00
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Gold enters the week at elevated levels, with demand for safe-haven assets supported by a softer dollar and a high probability of an imminent Federal Reserve rate cut. Lower U.S. Treasury yields and broader expectations of easier credit conditions in the United States reduce the opportunity cost of holding the metal. Additional support comes from steady official-sector purchases and inflows into gold-linked products, while sentiment across equity markets remains mixed and keeps interest in defensive assets intact.
At the start of the week, spot prices hold above $4,200 per ounce and the news backdrop remains favorable: markets are pricing a strong chance of a December cut and responding to swings in the dollar. Over the short horizon the balance of drivers stays constructive: the combination of easier-policy expectations, a weak dollar and ongoing geopolitical uncertainty supports demand for gold and allows room for further gains after measured pullbacks.
Trade recommendation: BUY 4220.00, SL 4175.00, TP 4355.00
#SP500: BUY 6820, SL 6710, TP 7050

U.S. equities begin the week near record highs, remaining sensitive to Federal Reserve communication and the macro data flow. Expectations of policy easing in December support the valuation of future earnings and discount rates, which benefits rate-sensitive sectors and areas tied to investment cycles, including AI-related spending. While a mildly negative tone in parts of Asia and some company-specific headlines linger, they do not alter the broadly constructive view on U.S. corporate profitability.
The index also benefits from a lower premium on dollar liquidity and stabilizing inflation expectations, which bolster risk appetite and encourage allocations into broad benchmarks. Risks stem from unexpectedly firm central-bank messaging and any reassessment of the earnings trajectory, yet under a base case of a gentle Fed stance and neutral data, demand for equities remains resilient through the week.
Trade recommendation: BUY 6820, SL 6710, TP 7050
#BRENT: BUY 62.50, SL 60.00, TP 67.50

Brent starts the week firmer after signals from producer alliances about maintaining current output parameters and amid headlines of localized supply disruptions. The market is shifting attention from prior oversupply concerns to logistics and export risks, which reintroduces a risk premium into prices. Expectations of a softer U.S. policy stance also improve the broader environment for commodities by supporting risk sentiment and growth-sensitive assets.
Looking ahead, the medium-term path will hinge on U.S. demand and inventory prints, as well as updated balances from the major agencies. For now, the mix of stable producer policy, episodic news about infrastructure and transport, and a weaker dollar creates conditions for a gradual recovery in prices beyond current levels, while volatility may remain elevated around data releases.
Trade recommendation: BUY 62.50, SL 60.00, TP 67.50