Gold Market Trend Analysis: On October 21, the news regarding gold reveals that the prices surged back into a strong pattern on Monday. The market largely leans toward the belief that the Federal Reserve will maintain a “higher for longer, but no longer significantly increasing” communication route as it enters its silent period ahead of a rate decision. Inflation data is expected to be the core guidance for the next step. Uncertainties surrounding fiscal policy have provided a risk premium, with the US government shutdown entering a prolonged phase, affecting short-term growth expectations and causing fluctuations in both the discount rates of risky assets and risk premiums. The ambiguity in policy also helps gold maintain a certain level of risk premium at high prices. Geopolitical tensions and liquidity remain supportive as “slow variables.” The escalation of the Middle East situation makes the tail-end probabilities of “event risk” significant, leading to the continuous pricing of gold's hedging functions. On a mid to long-term scale, the demand for gold purchases by official departments and ETF holdings continues to provide a “slow variable” support, mitigating the impact of profit-taking during high volatility. Meanwhile, the relative strength of the Swiss franc and yen during decreased risk appetite will affect the marginal buying pressure and hedging intensity of gold, in conjunction with the dollar's fluctuations.

Technical Analysis of Gold: Throughout the day, gold has been under pressure, oscillating around the 4270 level. However, during the U.S. session, driven by safe-haven demand, gold broke through upwards again, marking the resurgence of bullish sentiment. The 4270 level is currently a dividing point for bulls and bears; having broken above this level, gold is expected to maintain its strong upward trend in the short term. If there is a pullback during the U.S. session, it would be advisable to continue to follow the upward trend. Today’s strong rally indicates that gold is completing a brief correction quickly, showing that the bullish sentiment remains robust. Given the current volatility, patience is required for any pullback to continue going long.

Looking at the 1-hour chart, moving averages remain in a bullish arrangement with a golden cross pointing upward, affirming the strength of the gold bulls. Following a strong breakout above the 4325 resistance, gold looks set to continue its upward trajectory and may break through last Friday's high. In the later trading session, it is essential to pay attention to the crucial short-term support level at 4320. Operationally, it is recommended to view any pullback around this support as an opportunity to go long. Overall, today’s short-term trading strategy suggests focusing on going long during pullbacks while considering short positions during rallies. Key resistance levels to watch in the short term are between 4380 and 4400, while significant support is observed around 4320 to 4300.

Latest Oil Market Trend Analysis: Regarding oil, on Monday (October 20), during the Asian session, WTI crude oil showed a trend of continued decline, dropping approximately 0.31% and approaching the 2025 low at $55.12 per barrel. Market sentiments have eased somewhat, temporarily alleviating trade concerns and providing limited support for prices. This week's discussions remain a focal point of the market, as investors widely expect ongoing positive communication could help limit downward pressure on oil prices. Brent crude stays around $61, while WTI stabilizes above $57, indicating persistent buying strength sustaining a market base. However, from a mid to long-term perspective, pressure factors still have not dissipated. The short-term oil market is driven by emotions and events, while in the mid-term, it caters to structures and inventory, reverting to supply-demand trends in the long run. The current major contradiction is that emotional support stabilizes prices in the short term, but supply-demand logic constrains trend movements. Should trade uncertainties arise repetitively, oil prices may revert to fundamental trajectories, maintaining a potentially weak oscillation range, necessitating careful management of rhythm and positions.

Technical Analysis of Oil: From the daily chart, oil prices have broken below the lower boundary of a range, objectively indicating a downward trend in the mid-term. The prices have sharply declined in a single day, with both subjective and objective trends pointing downwards. The MACD indicator shows that the fast and slow lines are below the zero axis, with a bearish momentum advantage. A downward oscillation trend is anticipated for oil in the mid-term. On the hourly (1H) chart, oil prices received support and bounced back around 56.10, while the short-term objective trend is transitioning within the moving average system. The MACD's fast and slow lines are rising from the bottom below the zero axis but have not crossed it yet, maintaining a bearish momentum advantage. A slight rebound for oil prices is expected today, albeit continuing to maintain a downward trajectory. In conclusion, today’s operational strategy suggests primarily going short on rebounds, with support for low prices as a supplementary approach. Key short-term resistance levels to monitor are between 58.5 and 59.5, while significant support is targeted around 55.5 to 54.5.