Gold News - On January 27, due to a weaker U.S. dollar boosting demand, precious metal prices once again hit new highs but subsequently experienced sharp volatility and retreated. Spot gold broke through $5,100 per ounce during the session, then fluctuated lower in the afternoon U.S. session, falling below the $5,000 mark, and finally closed up 0.45% at $5,008.55 per ounce. Spot silver surged to $117 per ounce during the session, at one point soaring 14% intraday, marking its largest intraday gain since the global financial crisis, before sharply retreating from its highs, erasing all intraday gains and turning negative; it ultimately closed up 0.4% at $103.625 per ounce. Spot platinum fell below $2,600 per ounce, having earlier reached a new high of $2,919 per ounce, and closed down 7.23% at $2,570.20 per ounce.
Oil prices edged lower as improved supply prospects from OPEC+ member Kazakhstan overshadowed concerns that winter storms bringing snow and freezing conditions to large parts of the United States would curb production. WTI crude oil closed down 0.78% at $60.92 per barrel; Brent crude oil closed down 0.69% at $64.84 per barrel. As severe cold weather hit many parts of the U.S., heating demand surged while supplies were also disrupted, pushing U.S. natural gas prices above $7 per million British thermal units for the first time since 2022, a 40% increase from last Friday's close, with prices in severely affected regions exceeding $200 per million British thermal units.
Latest Gold Market Trend - Yesterday, the gold market opened higher at $5,006 per ounce in the early session, influenced by safe-haven news, then experienced a slight pullback to $4,998.6 per ounce, followed by a strong rally that pushed prices to a new all-time intraday high of $5,111.8. The market then consolidated at high levels; during the U.S. session, profit-taking led to a pullback, with the intraday low reaching $4,988.8 per ounce. The market subsequently consolidated, and finally closed at $5,011.5 per ounce, forming a Shooting Star candlestick pattern with an extremely long upper shadow on the daily chart. Following this pattern, gold is in a state of high-level consolidation. In summary, after reaching highs and pulling back, gold faces a probability of further testing; today's strategy focuses on a range-bound approach, with primary consideration for buying on dips and secondary consideration for selling on rallies. Resistance levels to watch are $5,065-$5,110, while support levels are $5,010-$4,990.
Latest Crude Oil Market Trend - The U.S. crude oil market opened lower yesterday at $61.11 per barrel, then initially fell to $60.69 per barrel, followed by a strong rally that pushed prices to an intraday high of $61.78 per barrel. The market then experienced a sharp decline, with the intraday low reaching $60.4 per barrel, before rallying again towards the close. It finally settled at $60.91 per barrel, forming a Spinning Top candlestick pattern on the daily chart with a slightly longer upper shadow. Following this pattern, crude oil is showing signs of encountering resistance, potentially testing support levels or undergoing further correction. In summary, after a rally and adjustment, today's strategy considers buying on pullbacks to support levels as the primary approach, with selling on rallies as secondary. Resistance levels to watch are $61.0-$62.2, while support levels are $60.4-$69.5.
Latest Nasdaq Index Trend - The Nasdaq index market opened lower yesterday at 25,322.57 points, then initially fell to 25,270.72 points, followed by a strong rally that pushed the index to an intraday high of 25,798.16 points. The market then consolidated and finally settled at 25,726.28 points, forming a solid bullish candlestick on the daily chart. Following this pattern, the Nasdaq index continues its upward trajectory. In summary, after a pullback and stabilization, there is a probability of further testing the previous high resistance level. Today's strategy considers buying on pullbacks as the primary approach, with selling on rallies as secondary. Resistance levels to watch are 25,900-26,000 points, while support levels are 25,650-25,500 points.
