Gold Market Update – February 6: The benchmark 10-year U.S. Treasury yield closed at 4.182%, while the policy-sensitive 2-year yield finished at 3.455%. Precious metals faced heavy selling pressure. Spot gold dropped sharply after opening, briefly falling below $4,800 before rebounding over $100. However, during the U.S. session, gold prices continued to fluctuate downward, again breaking below the $4,800 level, and eventually closed down 3.73% at $4,779.41 per ounce. Spot silver plunged by $10 during the Asian session before entering a period of consolidation. Losses extended during U.S. trading, pushing the price near the $70 mark, with a final decline of 19.68% to $70.79 per ounce. Crude oil fell over 2% as the U.S. and Iran agreed to hold talks in Oman on Friday, easing market concerns over Iranian oil supply. WTI crude moved lower, hitting an intraday low of $62.70, and closed down 2.14% at $63.16 per barrel. Brent crude finished down 2.09% at $67.04 per barrel.

Latest Gold Price Movement – Yesterday, the gold market opened at $4,980.4 per ounce. After an initial rise to $5,024.2, prices retreated sharply, with the daily low reaching $4,756.9. The market then consolidated within a narrow range, ultimately closing at $4,782.9. The session concluded with a bearish candlestick showing a relatively long upper shadow, indicating potential for a pullback and further selling today. In summary, gold is experiencing a corrective retreat, testing key support levels. The focus is on the direction of a potential breakout. Today's trading strategy suggests selling on rallies and buying on dips, with resistance monitored at $4,940–$5,100 and support at $4,654–$4,400.

Latest Crude Oil Price Movement – The U.S. crude market opened yesterday at $64.57 per barrel. After a slight uptick to $64.67, prices fell sharply to $63.51, then rebounded strongly to $64.71 before another significant decline. The session low was $62.68, and the market eventually settled at $63.14. The daily chart formed a long-lower-shadow bearish candlestick, suggesting a potential for consolidation and a breakout. Overall, crude oil is currently in a pullback phase after a rally, with a possibility of resuming upward momentum. Further gains are anticipated today. The recommended strategy is to prioritize long positions on pullbacks, with short positions as a secondary approach. Resistance is seen at $64.6–$66.5, while support lies at $63.0–$62.0.

Latest Nasdaq Index Movement – The Nasdaq market opened yesterday at 24,983.8 points. After a brief climb to 25,066.52, the index retreated sharply, hitting a daily low of 24,301.55 before stabilizing. It finally closed at 24,327.68, forming a bearish candlestick with a long upper shadow. This pattern indicates a bearish breakdown, with attention on the sustainability of the downtrend. In summary, the Nasdaq has broken downward under strong selling pressure, suggesting potential for further declines. Today's trading approach favors selling on rebounds as the primary strategy, with buying on dips as secondary. Resistance levels are at 24,650–25,065, and support is expected at 24,100–24,000.