Gold Market Update—— On January 14th, the benchmark 10-year U.S. Treasury yield settled at 4.1840%, while the more policy-sensitive 2-year yield closed at 3.5450%. Spurred by softer-than-expected U.S. inflation data and persistent geopolitical and economic uncertainties boosting safe-haven demand, spot gold surged to a fresh record high. However, traders taking profits caused gold to relinquish all its intraday gains, ultimately closing down 0.26% at $4,585.95 per ounce. Spot silver touched a historic peak of $89.12 before pulling back, finally settling up 2.14% at $86.91. International crude oil prices advanced due to market concerns that Iran might reduce exports during turmoil, following former President Trump's pledge to impose a 25% tariff on any country trading with Iran. WTI crude ultimately settled up 2.11% at $61.09 per barrel, while Brent crude closed 1.79% higher at $65.44 per barrel.
Latest Gold Price Action—— Gold markets consolidated within a range yesterday. Opening at $4,595.5 per ounce, prices initially retreated to a low of $4,572 before staging a strong rally to set a new intraday record high of $4,635.8. Profit-taking emerged towards the session's close, pushing prices down to a daily low of $4,569, before settling at $4,585.5. The daily chart formed a bearish harami/hanging man candlestick pattern. Following this close, gold remains entrenched in elevated territory. In summary, analyst Liu Changjing notes: After an initial pullback, gold rebounded from the $4,569 level. While it failed to sustain a breakout above previous highs, it also did not experience a significant breakdown. Therefore, the primary strategy for today is to look for opportunities to enter long positions on pullbacks, while waiting for selling opportunities at higher levels. Key resistance is eyed at $4,635-$4,650, with support expected around $4,588-$4,560.
Latest Crude Oil Price Action—— U.S. crude oil markets opened yesterday at $59.81 per barrel. Prices initially dipped to a daily low of $59.45 before embarking on a strong, oscillating rally that peaked at $61.5. The session concluded with prices consolidating to settle at $61.1, forming a sizable bullish candlestick with an upper shadow of similar length. This closing pattern suggests crude oil is poised for further upward tests. In summary, after an extended period of consolidation at lower levels, crude oil has broken upward and shows potential for further gains. The main strategy for today is to prioritize entering long positions on dips, with selling on rallies as a secondary approach. Resistance is monitored at $62.5-$63.5, while support lies at $60.0-$59.0.
Latest Nasdaq Index Price Action—— The Nasdaq index opened yesterday at 25,774.82 points. It initially rallied to a high of 25,879.12 before undergoing a sharp correction to a daily low of 25,635.75. The index subsequently consolidated and settled at 25,732.89, forming a daily spinning top candlestick pattern. This closing formation indicates a probability of further upward movement for the index. In summary, the Nasdaq has once again tested a key prior resistance level. Today's focus is on whether the bullish momentum will persist. The trading strategy involves prioritizing long positions on pullbacks, with selling on rallies as a secondary tactic. Key resistance is watched at 25,880-26,000 points, with support anticipated around 25,719-25,600 points.
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