Gold Market Analysis:
Last Friday (April 4), spot gold prices plunged by over $75, leading to a sharp weekly close decline. After reaching a historical high near $3,170/oz, gold saw a significant drop. In the short term, gold’s volatility is likely to remain high. Technically, the recent drop suggests a bearish trend is forming. The initial market reaction to the U.S. tariff announcement last Wednesday pushed gold to a record high of $3,167/oz, but it corrected sharply before the weekend. This week, investors will closely follow tariff-related headlines and U.S. inflation data. China announced countermeasures to U.S. tariffs last Friday, triggering broad market sell-offs and forcing investors to liquidate gold holdings to cover losses in other markets. With Fed Chair Powell turning hawkish on tariffs and inflation, hopes of a rate cut have dimmed, further pressuring gold prices.
Gold Strategy Today:
Prefer buying the dip, with shorting on rebounds as a secondary approach. Watch for resistance at $3,065 and support at $3,034.
Crude Oil Market Analysis:
Last Friday (April 4), U.S. session, international oil prices continued to weaken, with WTI crude trading near $62.31/barrel. On Thursday, the market suffered a “Black Thursday,” with Brent crashing 6.42% to $70.14 and WTI plunging 6.64% to $66.95 — the worst one-day drop since 2022. The crash was triggered by a “triple shock”: OPEC reversing production cuts, U.S. tariff policies shaking global trade expectations, and institutions lowering demand forecasts. Panic swept the market, signaling the start of a high-volatility phase. Analysts warn this isn’t just a short-term correction, but a reshaping of global energy power dynamics, requiring markets to reprice geopolitical risk premiums.
Crude Oil Strategy Today:
Prefer shorting on rebounds, with buying the dip as a secondary approach. Watch for resistance at $61.9 and support at $58.9.