Analysis of gold news: Before the US market opened on Tuesday (September 12), the price of gold fell to a more than two-week low due to the rise of the US dollar. The widely watched U.S. inflation data may provide clarity on the Fed’s interest rate trajectory. Spot gold fell below 1910, its lowest level since August 25. As of press time, it was currently trading at $1,908.37 per ounce, an intraday decrease of 0.67%. FOMC members are currently prohibited from making any public comments ahead of next Thursday’s Fed policy decision, leaving traders looking for any potential sources of volatility to jump-start a rather muted market. Wednesday’s U.S. Consumer Price Index (CPI) report could help boost interest, especially with headline and core inflation expected to diverge. The dollar rose 0.3% against other currencies ahead of the CPI data, making gold more expensive for holders of other currencies.
Today’s gold strategy: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. Focus on the first-line resistance of 1924 at the top and the first-line support of 1898 at the bottom.
Analysis of crude oil news: On Tuesday (September 12), in the US market, international crude oil prices were trading around US$88.60 per barrel. The latest US Energy Information Administration (EIA) data showed that US gasoline inventories are currently about 214 million US dollars. barrels, at the lowest level in the past 5 years. U.S. producer Baker Hughes said in its weekly report that last week producers added an oil rig for the first time since June, but the total was still 127 less than a year earlier, a 17% drop. U.S. crude oil prices may be gradually rising, breaking through a new high of $83 and rising below the $93.50 resistance level in the coming weeks, but concerns about demand from Asian giants and Europe will limit further gains. Some analysts said that the upcoming U.S. Consumer Price Index (CPI) data may have an impact on U.S. crude oil prices because these data may indicate further interest rate increases. Oil prices are likely to remain supported by supply cuts promised by Saudi Arabia and Russia. Another factor supporting crude prices has been storms and flooding in eastern Libya, which has shut down four key oil export ports since Saturday. This week, the International Energy Agency and the Organization of the Petroleum Exporting Countries (OPEC) will release their monthly reports, which investors should pay close attention to.
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 89.7 at the top and the first-line support of 87.1 at the bottom.
The execution of gold and crude oil trading must be done carefully, the above strategies are recommended only for reference.
