Gold Market Analysis:
On Tuesday (June 10), during the U.S. trading session, spot gold reached a high of $3,348.24 per ounce, marking a daily gain of 0.34%, but then encountered resistance and retreated.
The latest progress in China-U.S. trade negotiations has become one of the main drivers of gold price fluctuations.
Recently, both sides have shown willingness to make concessions in their trade talks, causing gold prices to dip during the Asian session.
In particular, the new round of trade negotiations held in London between China and the U.S., although still facing many challenges to reach a comprehensive agreement, sent out “constructive” signals that led the market to have moderate expectations for the outcome.
This development may ease market risk aversion, thus weakening demand for gold and further limiting its upside potential.
Core topics of this round of talks include semiconductor export controls, rare earth policies, and intellectual property protection.
Although no agreement was reached, the smooth progress of the negotiations has boosted market optimism.
Historically, geopolitical uncertainty tends to support gold, but the easing of China-U.S. tensions this time could be a bearish factor for gold.
Gold Strategy Today:
It is recommended to prioritize buying on dips, with short-selling on rebounds as a secondary approach.
Watch for resistance around $3,345 and support near $3,310.
Crude Oil Market Analysis:
As market participants look forward to positive outcomes from negotiations between a major Asian country and the U.S., oil prices have edged up slightly.
During Tuesday’s Asian session, Brent crude oil futures rose $0.12 to $67.16 per barrel, and U.S. WTI crude increased $0.13 to $65.42 per barrel, briefly hitting a new high since April 4.
In the previous session, Brent had reached $67.19, the highest since April 28, mainly due to expectations that a China-U.S. agreement might be reached.
Currently, oil prices are at a crossroads of multiple influencing factors.
In the short term, the global trade situation remains the dominant driver of market sentiment—if a de-escalation agreement is achieved, it would support demand outlooks.
However, the potential resumption of Iranian exports and OPEC’s production increase strategy could lead to an oversupply risk in the second half of the year, becoming the main downside factor for oil prices.
Crude Oil Strategy Today:
It is recommended to prioritize short-selling on rebounds, with buying on dips as a secondary strategy.
Watch for resistance around $65.4 and support near $62.4.
Caution is advised. These suggestions are for reference only.
