Analysis of gold news: On Tuesday (May 7), spot gold maintained a volatile trend during the trading day. It opened at 2,322.13 US dollars per ounce today, with the highest hitting 2,329.93 US dollars per ounce and the lowest hitting 2,319.51 US dollars per ounce. As of press time, the gold price was at 2,318.95 US dollars. /oz, down 0.23%. Markets are still debating how many times the Fed will cut interest rates this year, with Morgan Stanley economists currently predicting three 25-basis-point rate cuts from the Fed this year, while swap traders expect two 25-basis-point rate cuts from the Fed. Cut interest rates. Geographical situation: The Israeli military has begun to evacuate civilians from Rafah. The ceasefire negotiations between Hamas and Israel in Cairo over the weekend seem to have reached a deadlock. Hopes for a ceasefire in Gaza have become slim. Ongoing tensions in the Middle East also appear to be boosting gold bull morale.
Today’s strategy for gold: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. Focus on the 2324 first-line resistance at the top and the 2294 first-line support at the bottom.
Analysis of crude oil news: During the U.S. trading session on Tuesday (May 7), U.S. crude oil fluctuated and fell within a narrow range, and is currently trading at $78.10 per barrel. Crude oil futures rebounded nearly 1% from around their 100-day moving average on Monday as concerns about supply cuts intensified as Hamas and Israel have yet to reach a ceasefire agreement. U.S. crude oil rose 0.9% on Monday, with U.S. crude oil futures settling at $78.48 a barrel; Brent crude oil rose 1.03% on Monday, with Brent crude oil futures settling at $83.33 a barrel. Both major contracts posted their biggest weekly losses in three months last week, with Brent crude futures falling more than 7% and U.S. crude futures falling 6.8%, as investors weighed weak U.S. employment data and the timing of a potential interest rate cut by the Federal Reserve. Saudi Arabia has increased its official selling price (OSP) for crude oil sold to Asia, northwest Europe and the Mediterranean in June, a statement from Saudi Aramco showed on Sunday, indicating that demand is expected to be very strong this summer. Strong. This also provides support to the oil market. There won’t be many economic events this week, with the focus being Friday’s University of Michigan consumer confidence index, while a number of Fed officials will speak later in the week, including Governors Cook and Bowman. Investors also need to pay attention to the API crude oil inventory series data in the early morning of Wednesday morning Beijing time.
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 79.3 at the top and the first-line support of 76.3 at the bottom.
Caution is required in operation and suggestions are provided for reference.
