Gold Information – On February 2nd, the benchmark 10-year U.S. Treasury yield closed at 4.238%, while the policy-sensitive 2-year yield settled at 3.539%. Spot gold initiated its decline during the European trading session, plummeting dramatically by 12% at one point to around $4,680, marking its largest single-day drop since 1983. The day's trading range neared $770, completely erasing the week's gains, and it ultimately closed down 9.19% at $4,883.45 per ounce, resulting in a weekly loss of 2.2%. Spot silver plunged heavily by 35% to the $73 level, recording its largest single-day decline on record, and finally settled down 26.37% at $85.01 per ounce, suffering a steep weekly loss exceeding 17%. Spot platinum and palladium each closed with losses exceeding 17% for the day. On Monday, gold opened $90 lower, and silver opened $4.50 lower. Supported by ongoing tensions between the U.S. and Iran, oil prices remained near their highest levels in nearly six months. WTI crude oil experienced wide fluctuations around $65, eventually closing up 0.35% at $65.78 per barrel; Brent crude closed up 0.28% at $69.61 per barrel.
Latest Gold Market Trend – The gold market experienced violent swings last week driven by fundamental influences, with price movements of an epic, unprecedented scale. The week started with a slight gap higher, opening at $5,005.5 per ounce, then slightly retraced to fill the gap, reaching $4,987.5. Subsequently, propelled by safe-haven demand, prices surged strongly, accelerating into Thursday's early session to hit a historic peak of $5,600. After brief consolidation at these high levels, a wave of profit-taking triggered a sharp correction of 500 points. The decline accelerated further on Friday following the announcement of the new Fed Chair nominee, with the weekly low touching $4,683.3. A rebound from oversold conditions ensued, and the week ultimately concluded with a settlement at $4,883.2 per ounce, forming a weekly candlestick with an extremely long upper shadow resembling an inverted hammer. This closing pattern suggests continued adjustment potential at the weekly level. Comprehensive analysis summary: Gold's rally and subsequent retreat has formed a descending channel. If today's rebound fails to break above the overhead resistance, a continuation of the downward breakout is highly probable. For today's trading strategy, prioritize selling on rallies, with buying on dips as a secondary approach. Monitor resistance above at $4,950-$5,150 and support below at $4,698-$4,650.
Latest Crude Oil Market Trend – The U.S. crude oil market opened last week at $61.106 per barrel. Prices initially declined, finding the weekly low at $60.186, before staging a powerful rally to a weekly high of $66.537. The week concluded with consolidation, settling at $65.789 per barrel, forming a large bullish candlestick with a slightly longer lower shadow than upper shadow. This closing pattern indicates a potential for further upward movement. Comprehensive analysis summary: Following its surge, crude oil has opened lower to test support levels. For today's trading strategy, prioritize entering long positions on pullbacks, with selling highs as a secondary tactic. Watch resistance above at $64.6-$66.2 and support below at $63.0-$61.5.
Latest Nasdaq Index Trend – The Nasdaq Index market opened lower last week at 25,322.44 points. It experienced a slight dip to 25,265.35 before rallying to 26,221.73. A strong sell-off followed, and the week ultimately settled at 25,525.38, forming a weekly candlestick with an extremely long upper shadow, resembling an inverted hammer. This pattern suggests the index is currently trading within a range. Comprehensive analysis summary: The Nasdaq's advance encountered resistance, indicating a probability of further adjustment. For today's trading strategy, prioritize selling on rebounds, with buying on dips as a secondary approach. Monitor resistance above at 25,664-25,917 and support below at 25,350-25,250.
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