Market review

Spot gold is trading around 3620.00 USD/oz. Overnight, weak U.S. consumer confidence data provided some safe‑haven support for gold. Risk appetite decreased and funds moved toward safe assets.

Drivers

The preliminary University of Michigan U.S. Consumer Sentiment Index for September was 55.40, the lowest since May, below the expected 58.0 and prior 58.20, showing weaker consumer sentiment. Breakdown shows:

- The expectations index fell more, indicating higher sensitivity to future uncertainty

- One‑year inflation expectations stayed at 4.80%, while long‑term inflation expectations rose for a second month to 3.90%

- Consumers’ assessment of their own finances dropped about 8%, and concerns about the business environment and jobs increased

Technical analysis

The 4‑hour chart shows gold oscillating near short‑term moving averages:

- Key support is near 3610.00

- If that level holds, price may test 3630.00 to the upside

- MACD shows bulls and bears are roughly balanced

Trading strategy reference

Spot gold

- Long opportunity: buy on a dip to 3610.00 if it stabilizes, target 3630.00

- Key logic: safe‑haven demand + technical support

Spot silver

- Long opportunity: buy on a dip to 41.500 if it stabilizes, target 41.800

- Note: silver is more volatile; consider light positions

Risk warning: Markets are unpredictable and may result in loss of principal. This analysis is for reference only and does not constitute direct investment advice. Investors should make independent judgments and decisions based on their own risk tolerance.