Gold Market Update —

On September 2nd, Monday, due to heightened market bets on Federal Reserve rate cuts combined with growing concerns about its independence, the US Dollar Index came under pressure and declined, ultimately falling 0.17% to close at 97.68. Spot gold rose for the fifth consecutive trading day, approaching the $3,490 mark during the session and hitting its highest level since April 22nd, ultimately closing up 0.82% at $3,476.39 per ounce. Spot silver showed even stronger gains, breaking through the $40 mark for the first time since September 2011, ultimately closing up 2.36% at $40.68 per ounce.

Latest Gold Market Trends —

The gold market continued its upward trend, opening at $3,449.5 per ounce. The price initially declined with the daily low reaching $3,436.7 per ounce, before staging a strong rally. After breaking above last week's high, the price peaked at $3,490 per ounce and ultimately closed at $3,476.5 per ounce. The daily candlestick formed a large bullish candle with an upper shadow slightly longer than the lower shadow. Following this formation, gold maintains its strong oscillating pattern. Overall assessment: If gold doesn't pull back, the upward trend will continue. Today's strategy should prioritize buying on dips with short positions as secondary approach. Upside resistance levels to watch are $3,500-3,510, while downside support levels are at $3,370-3,360. An unexpected break below these levels could trigger continued bearish momentum.

Gold Strategy: Buy gold on pullbacks to the $3,470-3,460 area, targeting $3,490-3,500, with stop loss at $3,455.

Latest NASDAQ Trends —

The NASDAQ market opened yesterday at 23,429.54, initially rising to a daily high of 23,505.38, then declining to a daily low of 23,320.78 before recovering to close at 23,452.5. The session formed a hammer pattern with a very long lower shadow. Following this formation, the NASDAQ remains in low-level consolidation. Overall assessment: The NASDAQ is in low-level oscillation with overhead pressure unchanged. Today's focus is on whether the low levels can stabilize. The strategy should involve high short and low long positions. Upside resistance levels to watch are 23,459-23,550, while downside support levels are at 23,320-23,300.

NASDAQ Strategy: Buy NASDAQ on pullbacks to the 23,350-23,300 area, targeting 23,400-23,459, with stop loss at 23,260.