Gold Market Trend Analysis -

The global financial market continues to operate amidst uncertainty. Geopolitical tensions in the Middle East, expectations for the Federal Reserve's monetary policy, and market concerns about energy demand are key factors driving market trends. As major institutions release their latest analyses and forecasts, fluctuations in the gold, foreign exchange, and crude oil markets have become increasingly apparent. The market is now widely betting that the Federal Reserve will cut interest rates by 25 basis points at its November meeting. The latest CME FedWatch Tool shows that the market's expectation for this rate cut has reached as high as 90%. This news of consecutive rate cuts has, to some extent, aided gold bulls. Therefore, in recent trading sessions, we can see a bias towards buying gold on dips, and there is reason for gold's upward momentum.

Gold Technical Analysis -

Previously, gold had closed lower for six consecutive trading days, falling to the trend line near 2600 and repeatedly fluctuating. A technical rebound at this point is reasonable. On Friday, the gold price had already regained the 10-day moving average and the Bollinger Band middle rail above 2642, which is also an area with dense support from multiple moving averages. If gold does not break below this level, it is expected to be a high-position upward struggle.

Currently, in terms of operations, the position near 2642 can be regarded as a short-term bearish defense point. Another support near 2630, if there is a solid negative candlestick break, will temporarily end the short-term reversal of the bullish trend. The pressure will reappear at 2642 and 2655.

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However, based on the above operational characteristics of gold, it is expected that even if gold retraces, there will not be a large space. Therefore, continue to use the top-bottom conversion position near 2640 as a support to rely on for bullish views. Before breaking below 2630, it is bearish.

Gold Trading Strategy: The key trading advice for the market is to break near 2658-2655 and go short, and to buy at the low positions of 2632-2635. Focus on the resistance at 2660-2670 in the day, and pay close attention to the support near 2580-2590.

Latest Crude Oil Market Trend Analysis -

In the US market, international oil prices rebounded strongly, with US crude oil currently trading near $75.78 a barrel. Previously, data showed an increase in US crude oil inventories, and oil prices fell nearly 3% on Wednesday, touching the 10-day moving average position. However, the risk of Iranian supply disruption due to conflicts in the Middle East and the impact of Hurricane Milton on the United States limited the decline. Brent crude oil futures settled at $76.58 a barrel on Wednesday, down $0.60, or 0.8%, with the lowest touch at $75.16 a barrel during the session. US crude oil futures settled at $73.24 a barrel on Wednesday, down $0.33, or 0.5%, with the lowest touch at $71.53 a barrel during the session. Investors need to pay attention to the US September CPI data, changes in the number of US initial jobless claims, geopolitical news, US hurricane-related news, and speeches by Federal Reserve officials on this trading day.

Crude Oil Technical Analysis:Crude oil opened lower during the day, with a brief attempt to test the 75 level in the early session without success. It then weakened further in a consolidating trend. During the European session, it pulled back to the 73.4 level, with the overall trend showing weakness, in line with expectations, and the price points operating within the anticipated range. For the evening, we continue to watch for a weak consolidating trend in crude oil, with a focus on the short-term resistance at 74.6-75 for potential short entries. Support is observed in the 72.2-72.5 area, and a conservative approach would be to consider long positions near this support. Aggressive traders may engage in short-term low buy and high sell operations within the mentioned range.

In the short term, there is significant downward pressure. Market focus will be on the upcoming release of U.S. energy inventory data this week, which could provide further guidance for oil prices. If the inventory data indicates a further decline in demand, oil prices may face the risk of further decline, hence the primary strategy for crude oil is to focus on shorting during rebounds.

Spot Silver -

The silver market opened yesterday at 31.674 and initially fell to 31.253 before quickly rebounding. The daily high reached 31.768 before the market trended downward in a consolidating pattern. The daily low touched 30.106 before the market rebounded at the end of the day, closing at 30.658. For today, a recommendation is to go short at 31.25 with a stop loss at 31.45, with targets looking towards 30.5 and 30.2 on the downside.