Gold Market Trend Analysis -

Last Friday's highly anticipated September employment report showed that the US non-farm payrolls recorded the largest increase in six months, with the unemployment rate declining and wages growing steadily, prompting the market to reduce bets on further significant rate cuts by the US Federal Reserve. Following the release of the employment data, the market expects the Fed to cut rates by only 25 basis points in November, rather than 50 basis points. The yield on the US 10-year Treasury note broke through 4% on Monday for the first time in over two months, which means the opportunity cost of holding gold has increased, reducing the appeal of gold. The data has kept the US dollar hovering at its highest level in seven weeks, slightly suppressing the short-term heat wave of gold continuing to reach new highs. Government data released last Friday showed that the labor market unexpectedly showed very strong momentum, raising doubts about the widespread concern that the labor market is in a weak state. The Fed cut its interest rate target by 0.5 percentage points last month, to between 4.75% and 5%, as inflationary pressures have significantly weakened, and there are ample signs that the labor market is becoming increasingly weak. The Fed also convinced the market that there will be a further rate cut of 0.5 percentage points before the end of the year. However, the strong hiring momentum in September raises questions about the extent to which the Fed needs to actively cut rates. The market will now focus on the minutes of the Fed's last policy meeting, as well as this week's US Consumer Price Index (CPI) and Producer Price Index (PPI) data. The process of adjusting the Fed's monetary policy remains the focus of market attention.

Gold Trading Strategy: The key trading suggestion for the market is to break near 2650-2648 and go short, and to go long at the low position of 2608-2615. Focus on the resistance line of 2660-2670 above during the day, and pay special attention to the support line near 2580-2590 below.

Crude Oil Market Trend Analysis -

In the US market, international oil prices rebounded strongly, with US crude oil currently trading near $75.78 a barrel. Previously, data showed that US crude oil inventories rose, and oil prices fell nearly 3% during Wednesday's trading, touching the 10-day moving average position, but the risk of Iranian supply disruption due to conflicts in the Middle East and the impact of Hurricane Milton in the US limited the decline. Brent crude futures settled at $76.58 a barrel on Wednesday, down $0.60, or 0.8%, with the lowest touch at $75.16 a barrel during the session. US crude futures settled at $73.24 a barrel on Wednesday, down $0.33, or 0.5%, with the lowest touch at $71.53 a barrel during the session. Investors need to pay attention to the US September CPI data, changes in the number of US initial jobless claims, geopolitical news, US hurricane-related news, and speeches by Fed officials during this trading day.

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Technical Analysis of Crude Oil: Crude oil experienced a pressure-induced decline yesterday. After reaching a high of 78.4, the oil price gradually震荡回落, touching a low of around 72.6. On the daily chart of crude oil, a large bearish candle followed a large bullish candle, indicating a potential reversal of all gains. The upper Bollinger Band has turned downward and the SAR Parabolic SAR indicator is at a high level, so the early 78.4 can be considered as the highest point of the week. Since the monthly 77.6 level is difficult to hold, subsequent rebounds close to the resistance point can be shorted for a significant decline. Support is focused on the 73.7 US dollar range, and if it breaks down unexpectedly, it may continue.

Spot Silver -

The silver market opened yesterday at 31.674 and the market first fell to 31.253 before quickly rising. The daily high reached 31.768 before the market fell back in a震荡 pattern, with the daily low reaching 30.106 before the market rebounded at the end of the day, closing at 30.658. Today's recommendation is to go short at 31.25 with a stop loss at 31.45, with targets below at 30.5 and 30.2. (Suggestions are for reference only, investing involves risk, and entering the market should be done with caution!)