Analysis of gold news: Spot gold maintained a volatile trend during the day on Tuesday (May 21). It opened at 2,426.47 US dollars per ounce today, with a maximum of 2,432.89 US dollars per ounce and a lowest of 2,406.29 US dollars per ounce. As of press time, the gold price was at 2,421.32 US dollars per ounce. An increase of 0.02%. U.S. spot gold prices fell back to $2,420 on Tuesday (May 21) as comments from global central bank policymakers showed they were unwilling to commit to interest rate cuts. In a relatively high interest rate environment, precious metals tend to perform worse because investors can earn returns by holding cash or bonds. However, continued geopolitical concerns stemming from conflicts in the Middle East and Ukraine have provided a positive counterweight to gold prices. Stockpiling of gold by emerging market and BRICS central banks as a policy response to Western sanctions was a further supporting factor.
Today’s gold strategy: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. Focus on the 2439 first-line resistance at the top and the 2409 first-line support at the bottom.
Analysis of crude oil news: Oil prices continued to fall during the U.S. trading session on Tuesday (May 21) as the cautious stance of Federal Reserve officials raised concerns that U.S. interest rates may remain high for a longer period of time. Both Brent crude oil and WTI crude oil futures prices are down nearly 2% from yesterday, with Brent crude oil trading at about $82.10 per barrel and WTI crude oil trading at about $77.83 per barrel. Fed officials are still hesitant to declare that they have successfully brought inflation under control. This suggests that they believe it is necessary to maintain policies that restrict economic activity for some time.
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 79.5 at the top and the first-line support of 76.5 at the bottom.
Operations need to be done with caution and are recommended for reference only.