Gao Bojing: Gold Today's Market Analysis and Latest Trading Strategy

Gold News —

On March 18, the benchmark 10-year U.S. Treasury yield closed at 4.203%, while the 2-year Treasury yield, which is sensitive to Federal Reserve policy rates, closed at 3.684%. Spot gold remained relatively stable as market participants monitored the escalating Iran conflict and awaited the Federal Reserve’s upcoming policy decision. Gold continues to fluctuate around the $5,000 mark, ultimately closing down 0.02% at $5,005.45 per ounce; spot silver also oscillated around the $80 level, ending down 1.87% at $79.20 per ounce. Due to Iran’s renewed attack on the UAE, concerns about worsening global supply prospects increased, leading to a rebound in oil prices. WTI crude briefly hit a daily high of $98.41 before retracing most of its gains, closing up 1.67% at $95.77 per barrel; Brent crude surged during U.S. trading hours, surpassing $100, and ultimately closed up 3.23% at $100.76 per barrel.

Latest Gold Market Trends —

Yesterday, gold continued its consolidation, opening at $5,011 per ounce. It retraced to $4,993.9 before quickly rallying, with the daily high reaching $5,044.7. The market then experienced strong volatility and a pullback, with the lowest point of the day at $4,973. By the end of the session, gold rebounded strongly, closing at $5,003.4. The daily chart shows a doji star pattern with a slightly longer upper shadow than the lower, indicating continued consolidation under pressure. Overall, Gao Bojing summarizes: Gold is in a low-range correction; if the rebound is weak, further declines are possible. Today’s strategy considers shorting at highs and buying on dips, with resistance at $5,030–$5,060 and support at $4,970–$4,950.

Latest Crude Oil Market Trends —

Yesterday, U.S. crude opened at $94.33 per barrel, retraced slightly to $93.77, then surged to a daily high of $98.46. It then pulled back, with the lowest at $93.61, and ended the day at $95.73. The daily chart shows a long upper shadow with a hammer pattern, indicating indecision and potential for a breakout. Overall, crude oil remains in a range-bound pattern. The strategy today is to consider shorting at resistance levels of $95.70–$97.50 and buying on dips at support levels of $93.00–$91.50.

Latest Nasdaq Trends —

Yesterday, the Nasdaq opened at $24,637.99. It initially declined to a low of $24,500.05 before rallying strongly, reaching a high of $24,882.87. After some consolidation, it closed at $24,790.92. The daily chart shows a long lower shadow hammer pattern, suggesting further upward potential. Overall, Nasdaq is consolidating with a breakout possibility. The strategy today is to consider buying on pullbacks, with resistance at $25,164–$25,450 and support at $24,712–$24,600.

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Editor: Chen Ping