Gold Market Analysis: On Wednesday (August 14), the U.S. Consumer Price Index (CPI) for July was released, once again becoming a focal point for the market. The data showed that inflation eased to 2.9%, which was below the market expectation of 3%. This marked the first time since March 2021 that the CPI annual rate had returned to the “2” range. This release undoubtedly brought new volatility and interpretive space to the market. The release of the July CPI data provided the market with fresh volatility and offered investors a chance to reassess economic prospects and policy expectations. In this process, the market’s immediate reaction, the Federal Reserve’s interest rate cut expectations, and the combination of fundamental and technical factors will all be key elements influencing future market trends.
Gold Strategy for Today: It is recommended to focus primarily on buying the dips and secondarily on selling the rallies. Pay attention to the resistance at 2465 and support at 2435.
Crude Oil Market Analysis: Supported by easing concerns over a U.S. economic recession and escalating geopolitical tensions in the Middle East, oil prices rose for the fifth consecutive trading day on Monday and continued to fluctuate at high levels on Tuesday. Over the past week, driven by strong economic indicators and heightened concerns about potential supply disruptions, both Brent crude and West Texas Intermediate (WTI) prices surged significantly. The highs for oil on Monday and Tuesday have surpassed $80 per barrel. Given the ongoing geopolitical tension in the Middle East and positive U.S. economic data, the outlook for oil prices remains bullish. However, after a substantial rally and consolidation the previous day, oil prices faced selling pressure and are currently hovering around the key 50-day moving average. Investors are awaiting the U.S. Energy Information Administration (EIA) weekly inventory report and subsequent crude oil data.
Crude Oil Strategy for Today: It is advised to focus mainly on selling the rallies and secondarily on buying the dips. Watch for resistance at 77.3 and support at 74.3.
Note: Please exercise caution in your operations; these suggestions are for reference only.