Analysis of gold news: On Tuesday (March 26), the price of gold rose under the support of a weak US dollar, once breaking through the US$2,200 mark. Investors’ focus turned to U.S. inflation data due later this week, which could provide more clues on the timing of the Federal Reserve’s first interest rate cut this year. Driven by key economic factors such as the recent decline in the U.S. dollar and Treasury yields, gold prices rose sharply on Tuesday (March 26) and may challenge the recent historical high of $2,222.915. The market is currently looking forward to the release of U.S. core personal consumption expenditures (PCE) data, which is critical for a deeper understanding of inflation trends and guiding future monetary policy decisions by the Federal Reserve. The 10-year U.S. Treasury yield edged lower, reflecting investor reaction to the latest economic indicators and expectations for upcoming inflation data. The U.S. dollar index fell slightly, partly because Federal Reserve officials signaled a possible 25 basis point interest rate cut in June, and also affected by the strengthening of the yen and the expected release of U.S. core PCE data, which will have a major impact on the future direction of U.S. interest rates.
Today’s gold strategy: It is recommended to focus on low and long callbacks, supplemented by rebounds from high altitudes. Focus on the 2190 first-line resistance at the top and the 2160 first-line support at the bottom.
Analysis of crude oil news: Due to geopolitical tensions and signs that OPEC will stick to its current production reduction plan at a representative review meeting next week. The bullish sentiment on oil prices has increased. WTI crude oil rose by more than 1%, and once reached US$82 in the US market, and finally closed up 1.44%, at US$81.92/barrel; Brent crude oil closed up by 0.57%, at US$86.01/barrel. . According to foreign media, OPEC representatives believe there is no need to recommend changes to oil supply policy at next week’s review meeting because the production quotas set in the first half of the year have proven to be effective. It is reported that Russia requires oil companies to cut production to 9 million barrels per day by the end of June to meet its commitments to OPEC.
Today’s crude oil strategy: It is recommended to focus on rebounding from high altitudes, supplemented by low and long corrections. Focus on the first-line resistance of 82.3 at the top and the first-line support of 79.3 at the bottom.
Caution is required in operation and suggestions are provided for reference.
