On Tuesday, September 23, the benchmark 10-year U.S. Treasury yield climbed 1.3 basis points to settle at 4.968%, while the policy-sensitive 2-year yield held nearly flat at 4.756%. Pressured by a stronger U.S. dollar, spot gold maintained a downward trajectory through the Asian and European sessions, but reversed its slump near the 4,290 mark, rallying nearly $80 to close up 0.34% at $4,358.58 per ounce. Spot silver advanced 1.49% to settle at $67.01 per ounce. Meanwhile, Saudi Arabia signaled readiness to resume crude exports from the Yanbu port and restart the East-West pipeline, while Gulf states jointly urged Washington during the U.N. General Assembly to avoid further escalation with Iran, prompting a notable retreat in international oil prices. WTI crude plunged 2.37% to $89.48 per barrel, and Brent crude declined 1.49% to settle at $95.27 per barrel.
In the latest gold market movement, the precious metal opened at $4,344.30 per ounce during yesterday's session, initially climbing to a daily high of $4,376.50 before undergoing a sharp correction. Prices found solid support at the daily low of $4,291.20 and rebounded strongly, eventually closing at $4,357.80 per ounce. The daily candlestick formed a hammer pattern with a long lower shadow, signaling that bearish pressure persists while testing lower support levels. In summary, gold remains in a range-bound, pressured environment, yet a support zone has formed beneath, and only a decisive breakout beyond this level will establish a clear trend. For today's trading, a strategy of selling at highs and buying at lows is recommended, with resistance eyed at $4,375-$4,400 and support at $4,310-$4,280.
For crude oil, the U.S. benchmark opened yesterday at $95.89 per barrel, initially advancing to $97.74 before a forceful retreat. Prices hit a daily low of $92.58, then consolidated, eventually closing at $93.71 per barrel. The daily candlestick printed a large bearish candle with a slightly longer upper shadow, indicating that the bearish momentum in oil is set to extend. Overall, the downtrend in crude is being propelled forward, with the previous ascending channel's lower support resting around $84.70. Today's focus should be on any signs of price stabilization, with a strategy favoring rallies as selling opportunities and buying on dips as a secondary approach. Resistance is seen at $92.0-$93.9, while support lies at $88.7-$85.0.
In the Nasdaq index, yesterday's session opened at 30,485.24, briefly rising to 30,620.16 before a rapid pullback to the daily low of 30,368.42. The index then surged strongly, reaching a daily high of 30,768.24 before consolidating and closing at 30,702.42. The daily candlestick formed a bullish middle line with a slightly longer lower shadow, confirming that the index continues its upward trend. Following the consolidation phase, the Nasdaq has broken out to the upside, paving the way for further price appreciation. For today's approach, buying on dips remains the primary strategy, with selling at highs as a secondary tactic. Resistance is projected at 31,000-31,500, while support is expected at 30,600-30,300.
This content is for reference only and does not constitute investment advice. Investors who act on this information do so at their own risk.
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