Gold Market Update – On April 29, the benchmark 10-year U.S. Treasury yield closed at 4.353%, while the more policy-sensitive 2-year Treasury yield finished at 3.850%. Spot gold continued to decline, hitting an intraday low of $4,554.89 per ounce, down nearly $150 from the day’s peak, and ultimately closed down 1.81% at $4,597.15 per ounce. Spot silver ended the session 3.18% lower at $73.08 per ounce. The downturn came amid investor anticipation of the Federal Reserve’s upcoming monetary policy meeting and reports that former U.S. President Trump expressed dissatisfaction with Iran’s latest proposal to end hostilities. Meanwhile, international crude oil prices rose sharply as traders assessed the stalemate in Middle Eastern tensions and news that the UAE may leave OPEC. WTI crude surged above $100 per barrel, reaching an intraday high of $103.59, and settled 2.9% higher at $101.40 per barrel. Brent crude closed up 2.03% at $103.91 per barrel.
Latest Gold Price Movement – Gold experienced a pullback during yesterday’s session. It opened at $5,686.3 per ounce, climbed to an early high of $4,701.5, then fell sharply to a daily low of $4,754.5 before stabilizing. The session concluded at $4,959.5 per ounce, with the daily chart forming a large bearish candlestick featuring a longer lower shadow. This pattern suggests that gold may remain under downward pressure. In summary, after a period of consolidation at higher levels, gold is likely to continue facing selling pressure. Today’s trading strategy favors selling on rallies as the primary approach, with buying on dips as a secondary tactic. Resistance is expected around $4,630–$4,680, while support lies near $4,550–$4,500.
Latest Crude Oil Price Movement – U.S. crude opened yesterday at $98.27 per barrel, dipped briefly to $97.95, then rallied strongly to an intraday peak of $103.6 before consolidating. It finished at $101.4 per barrel, forming a large bullish candlestick with a long upper shadow. This structure increases the likelihood of another upward test. In summary, having broken out, oil remains in a five-wave uptrend. Traders should focus on the sustainability of bullish momentum today. The recommended approach is to buy on dips as the main strategy, with selling on rallies as a secondary option. Resistance is seen near $102–$105, with support around $98.1–$96.0.
Latest Nasdaq Index Movement – The Nasdaq index opened yesterday at 27,300.95, climbed to 27,378.3, then retreated sharply to a daily low of 26,868.87 before stabilizing. It closed at 27,053.78, forming a medium bearish candlestick with a long lower shadow. This pattern suggests the index may enter a consolidation phase. In summary, after a sustained advance, the Nasdaq has undergone its first notable pullback. A rebound is expected once the decline stabilizes. Today’s trading strategy favors buying on dips as the primary approach, with selling on rallies as secondary. Resistance is anticipated near 27,300–27,400, while support lies around 27,010–26,890.
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