Analysis of gold news: The latest data released by the U.S. Department of Commerce on Thursday (June 27) showed that the final annualized quarterly rate of U.S. GDP in the first quarter was 1.4%, in line with market expectations. Fifteen minutes after the release of U.S. GDP data, the price of gold rose significantly, by about $10, and the U.S. dollar index fell by about 20 points, hitting as low as 105.7323. The latest data released by the U.S. Department of Commerce showed that the final annualized quarterly rate of U.S. GDP in the first quarter was 1.4%, in line with market expectations. Although some institutions believe that the market should ignore these data because they are outdated data for the second quarter, the market’s reaction after the data was released was quite mixed. So while the final GDP value was in line with expectations, markets will soon turn to tomorrow’s core PCE data. The core PCE price index is expected to fall to an annual rate of 2.6% from 2.8% in April, which would be the lowest level since March 2021. This expected decline could have an important impact on the Fed’s interest rate path, as the PCE price index is one of the inflation measures the Fed focuses on.
Today’s gold strategy: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. Focus on the 2335 first-line resistance at the top and the 2305 first-line support at the bottom.
Analysis of crude oil news: On Thursday (June 27), CNOOC announced that the Enping 21-4 oil field, China’s first ultra-deep extended reach well project offshore, was fully put into production, with a peak daily production of light crude oil of up to 740 tons. The Enping 21-4 oil field is located in the sea about 200 kilometers southwest of Shenzhen, with an average water depth of about 89 meters. It is a small sandstone marginal oil field. CNOOC has innovated its technology and management model, and relied on the Enping 20-5 unmanned platform 8 kilometers away to implement two ultra-deep extended reach wells to develop oil and gas resources economically and efficiently. According to the National Development and Reform Commission, a new round of refined oil price adjustment window will open at 24:00 (June 27). According to monitoring by the Price Monitoring Center of the National Development and Reform Commission, during the current round of refined oil price adjustment cycle (June 13-June 26), international oil prices rose due to factors such as expectations of tight supply and demand relations and intensified geopolitical conflicts. It was learned from the National Development and Reform Commission that the specific details of this oil price adjustment are as follows: the retail price limits of gasoline and diesel will be increased by 210 yuan and 200 yuan per ton respectively. On a national average: No. 92 gasoline will increase by 0.16 yuan per liter; No. 95 gasoline will increase by 0.17 yuan per liter; No. 0 diesel will increase by 0.17 yuan per liter. Taking a family car with a fuel tank capacity of 50L as an example, filling up a tank of No. 92 gasoline will cost you 8 yuan more.
Today’s crude oil strategy: It is recommended to focus on rebounding from high altitudes, supplemented by low and long corrections. Focus on the 83.1 first-line resistance at the top and the 80.1 first-line support at the bottom.
Caution is required in operation and suggestions are provided for reference.
