Analysis of gold news: On Monday (October 30), spot gold opened at US$2,004.19/oz on this trading day, with a maximum of US$2,006.69/oz and a lowest of US$1,991/oz. As of press time, the gold price was US$1,997/oz, a decrease of 0.43%. . The U.S. dollar index also experienced a significant correction in the short term, once touching 106.08. The Federal Reserve, the Bank of England and the Bank of Japan will announce interest rate decisions this week. Among them, the Federal Reserve’s decision has received the most attention from the market. It will announce the results at 2 a.m. Beijing time on Thursday. Federal Reserve Chairman Powell will hold a press conference half an hour later. meeting. Judging from some international news over the weekend, industry institutions currently generally predict that the Federal Reserve will remain on hold. However, we retail investors still need to be wary of the market risks caused by “hawkish” expectations. On October 31, the Bank of Japan announced its interest rate decision. On November 2, the Bank of England made its interest rate decision. Since the last interest rate meeting, the U.S. economic growth has remained strong, the slowdown in inflation has faced resistance, U.S. bond yields have risen sharply, and financial conditions have tightened significantly. Taken together, the need for further tightening by the Fed has decreased, but it will still remain vigilant about inflation risks.
Today’s gold strategy: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. At the top, focus on the 2010 first-line resistance, and on the bottom, focus on the 1980 first-line support.
Analysis of crude oil news: In the U.S. market on Monday (October 30), crude oil prices were trading around US$82.60 per barrel. As the geopolitical premium was gradually squeezed out, oil prices fell from highs in the past week, and then settled at the lower edge of the high range. Under the support of the tug-of-war market, the trend of oil prices was quite struggling under the multiple influencing factors that continued to be sorted and confused. Last Friday night, as news came out in the market that Israeli ground troops were expanding their operations in Gaza, oil prices broke out of the decline again during the day. It rebounded sharply by more than 3% from its lows. Against the background of the ever-changing Palestinian-Israeli conflict, oil prices have experienced repeated swings between yin and yang for four consecutive trading days. This has caused many investors to lose their way in the fluctuating oil prices. As the geo-premium was gradually squeezed out, oil prices fell back from their highs in the past week, and then emerged from a see-saw market under the support of the lower edge of the high range. Under the multiple influencing factors that continued to be sorted out and confused, the trend of oil prices was quite struggling, and it continued to fluctuate for several days. It fluctuated back and forth in a range of around $3.On the one hand, the Palestinian-Israeli conflict is developing towards a controllable trend. At the same time, there are still risks of recurrence in the conflict, which has also cooled down the geopolitical risks in the oil market. At the same time, investors are still cautious about potential risks. For a while, investors are difficult to predict the future performance of oil prices. Conclusion, this has also led to the recent alternating rise and fall in oil prices. Judging from the progress of the Palestinian-Israeli conflict, Israel stepped up its offensive against Gaza over the weekend. Iranian President Raisi said that Israel’s actions may force all countries to take action. The disturbance of oil prices by geopolitical factors will continue. Before that, oil prices were gaining momentum in range fluctuations. Until the situation becomes clear, investors will refocus their attention on the supply and demand of crude oil itself before making direction choices.
Today’s crude oil strategy: It is recommended to focus on rebounding high, supplemented by callbacks low and long. Focus on the first-line resistance of 83.8 at the top and the first-line support of 81.0 at the bottom.
The operation for gold and crude oil trading must be done carefully, the above strategies are recommended only for reference.
