September 23 Morning Report
Yesterday evening, gold saw a V-shaped reversal. The bulls held at 4300, but this morning the gold price retreated again from 4370 to around 4340 at the open. This is a corrective rebound, not a market reversal.
On the fundamentals: the Saudi and East-West oil pipeline resumed operations, the traffic volume through the Strait of Hormuz has picked up, and in addition, during its UN meeting period, Iran released a positive signal of “the strait can be reopened within 7 days.” With all this, the US and Brent crude oil prices fell under pressure. The market’s basic logic remains unchanged: oil prices dropping → cooling inflation expectations → weakening rate-hike expectations → gold gaining room to breathe.
Another issue to watch is US Treasuries. Although expectations for rate hikes have weakened, Treasury yields have not shown a significant decline. Instead, they are maintaining choppy trading at high levels. The US dollar index is also oscillating at elevated levels, which continues to weigh on gold.
From a technical perspective: gold is currently trading within the 4300–4370 range. The 4370–4380 area above forms short-term strong resistance, while the 4300–4310 area below provides key support. For intraday trading, it is recommended to adopt a range-trading strategy of selling at highs and buying at lows.
Trading suggestions: If gold rebounds to the 4370–4380 zone and faces resistance, consider a small-position short. Set the stop-loss above 4385, with targets at the 4320–4310 area; if gold pulls back to the 4300–4310 zone and stabilizes, consider a small-position long. Set the stop-loss below 4295, with targets at the 4350–4360 area.
Please note that market sentiment is currently quite sensitive, and any sudden news could trigger sharp volatility. Therefore, be sure to set stop-loss orders strictly, and control position risk.
The analysis above is for reference only and does not constitute any investment advice. Financial markets are volatile, and investing involves risk—proceed with caution when entering the market.#黄金 #伦敦金 $XAUT
Yesterday evening, gold saw a V-shaped reversal. The bulls held at 4300, but this morning the gold price retreated again from 4370 to around 4340 at the open. This is a corrective rebound, not a market reversal.
On the fundamentals: the Saudi and East-West oil pipeline resumed operations, the traffic volume through the Strait of Hormuz has picked up, and in addition, during its UN meeting period, Iran released a positive signal of “the strait can be reopened within 7 days.” With all this, the US and Brent crude oil prices fell under pressure. The market’s basic logic remains unchanged: oil prices dropping → cooling inflation expectations → weakening rate-hike expectations → gold gaining room to breathe.
Another issue to watch is US Treasuries. Although expectations for rate hikes have weakened, Treasury yields have not shown a significant decline. Instead, they are maintaining choppy trading at high levels. The US dollar index is also oscillating at elevated levels, which continues to weigh on gold.
From a technical perspective: gold is currently trading within the 4300–4370 range. The 4370–4380 area above forms short-term strong resistance, while the 4300–4310 area below provides key support. For intraday trading, it is recommended to adopt a range-trading strategy of selling at highs and buying at lows.
Trading suggestions: If gold rebounds to the 4370–4380 zone and faces resistance, consider a small-position short. Set the stop-loss above 4385, with targets at the 4320–4310 area; if gold pulls back to the 4300–4310 zone and stabilizes, consider a small-position long. Set the stop-loss below 4295, with targets at the 4350–4360 area.
Please note that market sentiment is currently quite sensitive, and any sudden news could trigger sharp volatility. Therefore, be sure to set stop-loss orders strictly, and control position risk.
The analysis above is for reference only and does not constitute any investment advice. Financial markets are volatile, and investing involves risk—proceed with caution when entering the market.#黄金 #伦敦金 $XAUT
