Analysis of gold news: On Monday (March 25), after two days of decline, the price of gold has stabilized around US$2,170.00 per ounce. Gold prices edged higher on dollar weakness as the U.S. dollar faced downward pressure amid speculation the Federal Reserve would cut interest rates starting in June. However, gold prices may face challenges as U.S. Treasury yields move lower on improving risk sentiment. Monday’s gains in gold prices can be attributed to a weaker U.S. dollar, driven by dovish sentiment surrounding the Federal Reserve’s stance on the path of interest rates. Market sentiment is leaning towards the Federal Reserve starting to cut interest rates starting in June, with Federal Reserve Chairman Jerome Powell pointing out at a press conference that an unexpected rise in unemployment could lead the central bank to consider lowering interest rates. Powell also assured markets that the Fed would not react hastily to months of rising inflation data. Additionally, gold prices were boosted after Federal Reserve policymakers recently said they still expect to cut interest rates by three-quarters of a percentage point by the end of 2024, despite recent higher inflation data.
Today’s strategy for gold: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. Focus on the 2185 first-line resistance at the top and the 2155 first-line support at the bottom.
Crude oil news analysis: Oil prices rose sharply in U.S. trading on Monday (March 25). This trend is believed to be affected by the escalation of tensions in the Middle East and between Russia and Ukraine, leading to increased concerns about global supply constraints. . Brent crude rose 0.5% to $85.26 a barrel, while U.S. crude futures rose 0.3% to $81.07 a barrel. Escalating geopolitical tensions, especially attacks on energy facilities in Russia and Ukraine, as well as fading prospects for ceasefires in the Middle East, have stoked concerns about global oil supplies. He also noted that a decline in the number of active rigs in the United States was also exacerbating supply tensions.
Today’s strategy for crude oil: It is recommended to focus on the rebound to high altitudes, supplemented by the callback to lows and longs. Focus on the 83.5 first-line resistance at the top and the 80.5 first-line support at the bottom.
Caution is required in operation and suggestions are provided for reference.
