Analysis of gold news: For the gold market, Christmas has arrived early, and the easing of inflationary pressures last Friday is expected to support gold prices during a quiet holiday week when economic data is sparse. This week, major European and American markets will be closed on Monday due to the Christmas holiday, and only a few markets, including U.S. exchanges, will open on Tuesday. Faced with thin trading volume and increased volatility, some analysts said traders will have a hard time identifying any trends in gold price action in the near future. However, some analysts also believe that investors need to pay attention to $2,050, as the upside potential for gold prices appears to be limited. Spot gold prices closed this week above the important psychological mark of $2,050, with a weekly increase of 1.71%. Although gold prices will consolidate in the near term, investors should view this price action as a positive sign. The data helped solidify investor expectations for an earlier and deeper rate cut next year, despite objections from several Fed policymakers last week. Swaps traders are betting that rates will fall by more than 150 basis points in 2024, double the Fed’s forecast.
Today’s gold strategy: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. Focus on the 2075 first-line resistance at the top and the 2050 first-line support at the bottom.
Analysis of crude oil news: In the US market last Friday (December 22), crude oil prices were trading around US$73.50/barrel. There were reports that the Houthi rebels’ attacks had prompted BP and major container shipping giants to Other companies have temporarily suspended or avoided the Red Sea/Suez Canal route. The United States, along with international partners, launched Operation Prosperity Champion to address security challenges in the region. Diversion of cargo ships via the Cape of Good Hope will significantly increase navigation time and additional costs, which may affect global trade and lead to inflation. For two months, international oil and gas markets have largely ignored the war between Israel and Hamas because it did not disrupt the flow of oil and gas from the Middle East and the Mediterranean in any meaningful way. Oil prices and European benchmark gas prices briefly rose in early October before falling back to six-month lows in early December as concerns about the economy and oil demand persisted, high northern hemisphere natural gas inventories and warming weather limited heating demand. But the market may be too complacent. The repercussions of the conflict in the Middle East may still affect global energy markets and supply chains, and push up consumer prices. So far, oil prices have been caught in the pull of geographical factors and their own adjustment needs. The crude oil market itself lacks clear guidance on its own supply and demand, especially Last week, U.S. crude oil production continued to hit a record high, and inventory accumulation also limited investors’ enthusiasm for chasing gains. However, investors paid more attention to some positive changes, which are also a reflection of the situation’s recovery. Oil prices have entered a volatile adjustment rhythm in the short term, with obvious anti-fall characteristics, which means that investors have high expectations for a rebound in oil prices and must pay attention to the rhythm.
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 75.0 at the top and the first-line support of 72.3 at the bottom.
The operation of gold and crude oil trading must be done carefully, the above strategies are recommended only for reference.
