October 20-22 by the Huangpu River in Shanghai, the 2026 Sustainable Global Leaders Conference is arriving once again. Nobel Prize and Turing Award winners will take the stage to discuss the future and trends of technology, and the internet-famous professor who "rescues" people from anxiety and the era of involution — Macfarlane — will engage in an on-site dialogue with Xiang Biao!
Spots are limited, so act fast. Let us join together for the sustainable cause! [Click to Register] On October 16, gold prices have been rising and falling recently, and many people have suffered greatly, always thinking there would be a pullback, only to find their short positions either stopped out or trapped, or else they chased longs all the way to the ceiling. The bitterness and helplessness of investing cannot be fully expressed by merely saying it was bad luck! These past few days, many investors have told Wang Jinxuan that reading the teacher's articles feels like it describes their current situation exactly — short positions trapped, then long positions trapped, feeling like they have been stuck in a cycle of being trapped with not even the slightest profit. Teacher Wang has said before that if you can come, I can help you. You don't settle, I don't go through the motions. May luck accompany you on the investment journey, and profits be with you! I am not only a mentor but also a friend worth having in your life. Like-minded individuals are welcome to come and have a heartfelt conversation!
On Wednesday, when the US CPI data was released, gold experienced a sharp drop that day. Yesterday, although multiple US economic data points exerted bearish pressure on gold prices, the market ultimately stabilized and rebounded; during the day, it recovered across the board, having already erased all previous losses, with the daily chart forming a bullish engulfing candlestick pattern. The overall trend aligns with the judgment of a bottoming-out and rebound, though gold prices have not yet broken upward to firmly stand above the 4200-4230 range. From a technical perspective, today being Friday, key attention should be paid to the weekly closing pattern. The weekly close will directly determine the strength and sustainability of the market trend for the remainder of October. Currently, the weekly bottom divergence signal is clear. Once the bullish trend officially starts, October is expected to see a notable upward move, which has been the trend closely tracked all along. The daily chart is in a low-level consolidation and converging structure, with 4230 as the dividing line between strength and weakness: successfully standing above 4230 would shift the market from weak to strong and open upward space; if it continues to face pressure below 4230, the market will remain in weak consolidation. Today is Friday, and the key focus is whether this critical level can be effectively broken through.
Intraday technical picture: downside support at 4130, short-term rebound resistance first at 4200, core pressure at 4230. Before the price breaks out of this range, maintain a consolidation mindset. In terms of operations, one can sell high and buy low, accumulating profits in batches. As for silver, the rebound that started from the 55 support has performed impressively. Indicators combined with bottom divergence and a double-bottom structure taking shape basically confirm that this round of silver's bottom has been established. Going forward, the key focus should be on upward momentum and upside space; trend confirmation requires waiting for the price to break above 62 before further assessment. Accumulated gold and Rongtong gold: continued reminders that October is not suitable for frequent trading. The short-term market is oscillating back and forth, and repeatedly entering positions offers very low cost-effectiveness. It is recommended to keep a base position and hold patiently, waiting for the October market. If the bullish trend starts in October, the first target is 930, with an optimistic expectation of up to 950. The market will most likely materialize around the Federal Reserve's interest rate decision on October 28. There is no need for excessive anxiety; just patiently wait for market signals.
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