Analysis of gold news: Entering the U.S. market on Monday (December 18), the 10-year U.S. bond yield fell further, and spot gold maintained a narrow range of fluctuations. It is currently hovering around $2020. This week, the market is waiting for comments from Federal Reserve officials. speech as well as US PCE inflation data. Gold edged higher on Monday, helped by weaker U.S. Treasury yields as investors awaited U.S. inflation data later this week for further clarity on the path for interest rates after the Federal Reserve’s dovish turn last week. After last Friday’s heavy decline, spot gold fluctuated within a narrow range during the day and is currently trading around $2020, awaiting further clues on the Federal Reserve’s monetary policy. The market’s focus is on the upcoming minutes of the Federal Reserve meeting. The minutes may provide clues about the future direction of the Federal Reserve’s policy, which will have an impact on gold prices. Overall, despite gold prices falling on Friday, many analysts remain bullish on gold’s prospects. Investors should pay close attention to market dynamics and related fundamental factors in order to make informed investment decisions.
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 2040 first-line resistance, and on the bottom, focus on the 2010 first-line support.
Analysis of crude oil news: In the US market on Monday (December 18), crude oil prices were trading around US$72.70/barrel. From a trend perspective, oil prices closed up on a weekly basis, leaving a long and strong trend. The lower shadow line, which means bottoming, is once again near the low point of the year. The sharp drop in oil prices last Wednesday once again triggered market concerns that oil prices would break through and fall, but then oil prices continued to rebound. After seven weeks, oil prices finally closed up on a weekly basis. The current situation faced by oil prices is similar to that in mid-June. On the one hand, oil prices are at low levels and fluctuating due to bad sentiment*; on the other hand, OPEC’s new production cuts are about to enter the implementation period. Therefore, investors are also generally concerned about whether oil prices will once again stage a sharp rebound after July this year? At present, it seems that history will repeat itself, but not simply. First of all, according to the current assessment of most institutions in the market, the effect of this production reduction in the first quarter of next year will not be like the 2 million barrels per day supply gap in the third quarter. The optimistic expectation is that if the voluntary production reduction is in place, it will bring about a small supply. gap, and it is still unknown whether the core member countries responsible for production reductions can fully implement the production reductions. In addition, it still needs to be observed whether the demand side will bring strong performance. Whether member countries can fully implement the production cuts is still unknown. In addition, it still needs to be observed whether the demand side will bring strong performance. Generally speaking, the supply and demand of the crude oil market has passed the worst stage after the OPEC meeting. In addition, the dovish remarks of the Federal Reserve and the European Central Bank and the rising expectations of interest rate cuts will help the market sentiment to recover. There is a high probability that oil prices will stop falling in the current area, but Judging from the assessment of the current market situation, the rebound level will be weaker than that in the third quarter.
Today’s crude oil strategy: It is recommended to focus on rebounding from high altitudes, supplemented by callbacks to lows. Focus on the first-line resistance of 74.4 at the top and the first-line support of 71.5 at the bottom.
The operation of gold and crude oil trading must be done carefully, the above strategies are recommended only for reference.
