Analysis of gold news: After the U.S. Consumer Price Index (CPI) data was released on Wednesday (September 13), the spot gold price fell by nearly 9 US dollars in the short term, and then rebounded slightly. The current price is 1909.31 US dollars per ounce. After the release of CPI data, the probability that the Federal Reserve will maintain the benchmark interest rate at 5.25%-5.50% in September is 91%, while the probability of raising interest rates by 25 basis points to the 5.50%-5.75% range is 9%. In addition, regarding the interest rate outlook in the future to November, the possibility of keeping the benchmark interest rate unchanged is 56.1%, the possibility of raising interest rates by 25 basis points is 40.4%, and the possibility of raising interest rates by 50 basis points is only 3.4%. Considering the above data, gold prices are likely to remain under pressure as rising interest rates may lead to increased safe-haven demand from investors, and gold is generally a safe-haven asset. However, if inflationary pressures continue to rise in the future, the Federal Reserve may adopt a more aggressive rate-raising strategy, which may put greater pressure on gold prices.
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 1920 at the top and the first-line support of 1895 at the bottom.
Analysis of crude oil news: U.S. crude oil continued its gains on Wednesday (September 13). The U.S. Energy Information Administration (EIA) issued its latest report, forecasting crude oil prices and production in 2023 and 2024. The forecast pointed out that the global oil market is facing tight supply, which directly affects the trend of oil prices. Today, the U.S. Energy Information Administration (EIA) released its latest report, forecasting crude oil prices and production in 2023 and 2024. The forecast pointed out that the global oil market is facing tight supply conditions, which directly affected the trend of oil prices today. At the same time, the market will pay close attention to U.S. inflation data. If the data is higher than expected, it may suppress the price of WTI, as the market will increase speculation that the Federal Reserve will raise interest rates, causing the dollar to appreciate. Although global production is expected to grow, the gap between supply and demand will widen in the fourth quarter. This will put upward pressure on oil prices, but it will also require close attention to the impact of global economic growth and political factors on the oil market. U.S. inflation data will also become the focus of the market and may affect oil price trends. In terms of supply and demand in the global oil market, the U.S. Energy Information Administration (EIA) stated in its latest report that although crude oil production increases and demand for refined oil remains weak, the global oil market is expected to be in short supply by the end of 2023.
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 89.8 at the top and the first-line support of 87.2 at the bottom.
The execution of gold and crude oil trading must be done carefully, the above strategies are recommended only for reference.
