The gold price hit a high of US$1896.25 per ounce on Thursday, one step away from the 1900 mark. The long shadow shows a slight lack of momentum, as it failed to rise, but it does not rule out the possibility of continued upside today. Yesterday, WTI crude oil continued to rise above the 48-dollar mark in Asian trading, but it turned down in European trading and almost gave up all the gains in the day. The US rebounded again before the market, and finally closed up 1.05% to 48.38 US dollars per barrel.
Fundamental: The Federal Reserve’s policy statement stated that it will continue to buy bonds until “substantial” progress is made towards the goal. The impact has also continued to push up the price of gold. In addition, a series of recent economic data in the United States have shown signs of weakness, and gold is approaching the 1900 mark. U.S. crude oil stayed near the nearly nine-and-a-half-month high set overnight. As Washington moved toward more pandemic relief expenditures, advances in vaccines also provided momentum for rising oil prices. Moderna’s new crown vaccine received support from the advisory board of the US regulatory agency , Making it expected to become the second new crown vaccine issued by the United States for emergency use authorization. In addition, the strong demand from refineries in China and India and the smooth progress of vaccines also provide momentum for rising oil prices. US crude oil is expected to record seven consecutive positives on the weekly line.
Note: XAUUSD.1 hour MT4 day chart (the yellow line is the 1873 long-short watershed, the red box is the pressure and support point)
The Bank of Japan will announce the interest rate decision at 11:00, and then the Governor of the Bank of Japan Haruhiko Kuroda will hold a press conference at 14:30. In early November, members of the Bank of Japan mentioned that they must be alert to the risk of stubborn deflation in Japan again.
Tesla will be included in the S&P 500 index after the market closes on Friday, local time, and the same day will be the “Four Witch Days” of US stocks, and several major ETFs will also be rebalanced on Friday. Trading activities will increase at that time. Be wary of the market Volatility.
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