Gold Market Analysis:
On Wednesday (September 25), gold broke its historical high, setting a new record at $2,670 per ounce. The main driving factor was the market’s bet that the Federal Reserve will take more aggressive rate-cutting measures. News of China introducing large-scale stimulus measures, including interest rate cuts, was also a contributing factor. Meanwhile, escalating geopolitical tensions in the Middle East have led to a flow of safe-haven investments into gold. The market expects further rate cuts in the future, with gold reaching new highs. The probability of the Federal Reserve cutting rates by another 50 basis points (0.50%) remains high. Currently, the chances of the Fed cutting rates again in the November meeting are 50.2%, while the likelihood of a 25-basis-point cut stands at 49.8%.
Gold Strategy for Today: It is recommended to prioritize buying on dips and selling on rebounds. Watch for resistance at the $2,675 level and support at the $2,645 level.
Crude Oil Market Analysis:
On Wednesday (September 25), during U.S. market hours, international oil prices experienced narrow fluctuations and a slight decline, with U.S. crude oil futures trading around $69.55 per barrel. Although oil prices were range-bound last Friday, they recorded a second consecutive weekly rise, supported by the U.S. rate cut and declining U.S. supplies. Brent crude futures closed last Friday down $0.39, or 0.52%, at $74.49 per barrel. U.S. crude futures dropped $0.03, or 0.4%, to settle at $71.92 per barrel. Signs of an economic slowdown in major commodity-consuming Asian countries have limited oil prices. However, both benchmarks posted gains of over 4% last week, marking two straight weeks of positive movement. Since Brent crude dropped below $69 for the first time in nearly three years on September 10, prices have recovered. Overall, the fundamentals suggest that oil prices may continue to fluctuate upwards in the near term. Today, U.S. and other Western countries’ manufacturing PMI data for September will be released, and investors should pay close attention.
Crude Oil Strategy for Today: It is recommended to focus on selling on rebounds and buying on dips. Watch for resistance at the $71.1 level and support at the $68.1 level.
Caution is advised, and the strategies are for reference only.
