On October 19, COMEX gold fluctuated and declined during the session, settling at $4,160.3 per ounce, down 0.50%. The domestic SHFE gold night session opened lower and moved downward, settling at 895.30 yuan per gram, down 0.69%.
On the macroeconomic front, France erupted in nationwide violent protests, with unrest impacting financial markets. The 10-year government bond yield climbed rapidly by 15 basis points, pushing the euro weaker and indirectly benefiting the dollar. On the geopolitical front, Iran's Revolutionary Guard stated that if the regional situation becomes unsafe for Iran, the entire region will no longer be safe, and Iran's response will be far more severe than before; Yemen's Houthi armed forces claimed to have carried out six military operations against Saudi Arabia in the past 48 hours. Recently, the gold market has shown a weak, low-level trend influenced by fluctuating rate hike expectations.
Looking ahead, gold prices in the short term remain caught in a tug-of-war between "interest rate suppression" and "technical support." The market is awaiting clear guidance from next week's Federal Reserve policy meeting — the October 27-28 meeting will likely hold rates steady, but the tone of the policy statement (especially hints about December action) may influence whether gold can hold the $4,100 level. Meanwhile, this week's initial jobless claims and Friday's PMI and consumer confidence reports may provide incremental signals for assessing economic resilience. If inflation or economic data once again exceed expectations, gold prices may still have downward momentum.
Source: Wind, Everbright Futures Research Institute. Author: Shi Yueming. Practicing qualification: F03097365. Trading advisory qualification: Z0017563. Disclaimer: The information in this report is sourced from publicly available materials. Our company makes no guarantee regarding the accuracy, reliability, or completeness of such information, nor does it guarantee that the information and suggestions contained herein will not undergo any changes. We have strived to ensure the objectivity and fairness of the report's content, but the views, conclusions, and suggestions herein are for reference only and do not constitute any specific product or business recommendation or operational basis and advice for related instruments. Investors who make investment decisions based on this report shall bear their own profits and losses, which are unrelated to our company and the author.
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