Gold Market Analysis:
Gold has broken its historical high, reaching a new record of $2,685 per ounce. The main driving factor is the market’s bet that the Federal Reserve will take more aggressive rate-cutting measures. Additionally, China’s announcement of large-scale stimulus measures, including interest rate cuts, has also contributed to the rise. Meanwhile, escalating geopolitical tensions in the Middle East have further increased the flow of safe-haven investments into gold. The market expects further rate cuts in the future, with gold hitting new highs. The likelihood of the Federal Reserve cutting rates by another 50 basis points (0.50%) remains high, with the probability of a 50-basis-point cut at the November meeting currently at 50.2%, while 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 $2,683 level and support at the $2,653 level.
Crude Oil Market Analysis
On Thursday (September 26), during U.S. market hours, international oil prices fell sharply, with U.S. crude oil currently trading near $68.13 per barrel, close to a one-week low. Oil prices plunged over 2% on Wednesday, as concerns about disruptions to Libyan supply eased, and the U.S. and France worked toward a temporary ceasefire plan between Israel and Hezbollah. However, concerns over demand continue to weigh on the market. Nonetheless, a decline in U.S. crude oil inventories provided some support to prices. Brent crude oil futures fell $1.71, or 2.27%, to settle at $73.46 per barrel on Wednesday. U.S. crude oil futures dropped $1.87, or 2.61%, to settle at $69.69 per barrel.
Crude Oil Strategy for Today: It is recommended to focus on selling on rebounds and buying on dips. Watch for resistance at the $68.6 level and support at the $65.6 level.
Caution is advised, and the strategies are for reference only.