Analysis of gold news: In the US market on Thursday (June 20), the price of gold rose sharply, and the price of silver rose sharply. Precious metals bulls are feeling more confident later this week after a weaker U.S. retail sales report earlier in the week. Today’s headline in Barron’s is: “Amid economic slowdown, Fed finally needs to cut interest rates.” Spot gold prices rose $26.77 in late trading to $2,354.76. The Swiss National Bank unexpectedly cut its key interest rate for the second consecutive time on Thursday to 1.25%. The news also benefits metals market bulls as the world’s major central banks entertain the idea of easing monetary policy. In other overnight news, Bank of China officials kept the one-year and five-year preferential lending rates at 3.45% and 3.95% respectively. Change. Earlier this month, the Bank of Japan decided to keep its one-year medium-term lending benchmark rate unchanged at 2.50%. Meanwhile, the Bank of England is expected to keep interest rates steady at 5.25% today. Every release of U.S. economic data affects the nerves of the global financial market, especially for gold, a safe-haven asset, whose price fluctuations are often closely related to economic indicators. Weak U.S. economic data is often seen as a precursor to possible changes in monetary policy by the Federal Reserve. Increased expectations of interest rate cuts reduce the opportunity cost of holding gold because gold itself does not generate interest. In addition, increased economic uncertainty also often prompts investors to seek safe-haven assets, thereby pushing up gold demand and prices. While markets are divided on the Fed’s rate cut expectations, most analysts expect the Fed could cut rates before the end of the year if inflation does peak and start to fall back. If this expectation is confirmed, it may bring new upward momentum to the gold market. Fluctuations in U.S. economic data have had a significant impact on the gold market. When making investment decisions, investors should conduct an in-depth analysis of the logic behind economic data and consider changes in market expectations for Fed policy. At the same time, considering the uncertainty of the market, investors should adopt prudent strategies and reasonably diversify risks.
Today’s gold strategy: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. Focus on the 2374 first-line resistance at the top and the 2344 first-line support at the bottom.
Analysis of crude oil news: In the U.S. market on Thursday (June 19), international oil prices fluctuated and rose within a narrow range. U.S. crude oil once slightly refreshed its high in nearly a month to $81.68 per barrel. Oil prices closed up more than 1% on Tuesday as tensions in Europe and the Middle East escalated, with wars in the two regions continuing to pose a threat to global supplies. In addition, market expectations for an interest rate cut by the Federal Reserve in September increased, and the U.S. dollar index fell, which also gave oil prices Provide support. The main Brent crude oil futures contract closed up $1.08, or 1.3%, at $85.33 per barrel on Tuesday; the main U.S. crude oil contract rose by 1.04% on Tuesday, closing at $80.78 per barrel. Both U.S. and Burundi oil prices rose for three consecutive trading days. As investors became increasingly optimistic about the demand outlook, international oil prices continued their gains and hit a new high in the past month. WTI crude oil futures once approached the US$80 mark, but did not stand there. Finally, they closed up 2.41% at US$79.95 per barrel. Crude oil and product inventories have risen at an unseasonal pace since February, and if this trend continues, it could put pressure on oil prices in the third quarter. If inventories continue to build rapidly, oil prices will fall.
Today’s crude oil strategy: It is recommended to focus on rebounding from high altitudes, supplemented by callbacks to lows. At the top, focus on the 82.5 first-line resistance, and at the bottom, focus on the 79.5 first-line support.
Operations need to be done with caution and are recommended for reference only.
