【Evening Market Brief】
The U.S. Dollar Index has broken above the integer level of 100, suppressing the performance of precious metals. Spot gold has come under pressure and pulled back to around $3,930.00 per ounce, while silver has fallen below $47.000 per ounce. The market is awaiting the evening release of the U.S. ADP Employment Report and ISM Non-Manufacturing PMI; the performance of these data will affect the trend of the U.S. dollar and the short-term direction of precious metals.
【Analysis of Core Influencing Factors】
- Suppression from a Strong U.S. Dollar: The U.S. Dollar Index has hit a three-month high, increasing the cost of gold purchases for non-U.S. dollar investors.
- Fluctuating Policy Expectations: Federal Reserve officials hold divided attitudes towards a December interest rate cut, and the market’s expected probability of a December rate cut has dropped to 63%.
- Technical Pressure: Gold has broken below key support levels, and the short-term technical structure remains weak.
【Evening Trading Strategy Guidelines】
Gold (XAU/USD)
- Volatility Range: $3,900.00 - $3,970.00
- Trading Idea:
- If the U.S. dollar pulls back or geopolitical risks escalate, gold may rebound to test the $3,970.00-$4,000.00 range.
- If it breaks below the $3,900.00 support level, gold may decline to test $3,850.00.
Silver (XAG/USD)
- Key Levels: Support at $46.000-$47.000; Resistance at $48.000
- Trading Idea:
- If photovoltaic stockpiling starts, silver may break above $48.000.
- If it breaks below $47.000, silver may decline to test $46.000.
Risk Warning
All investments involve risks, including the risk of capital loss. This recommendation does not constitute specific investment advice. Investors should make decisions based on their own risk tolerance, investment objectives, and market conditions.