**Gold Market Trend Analysis:**

On September 15th, spot gold remained steady near $3,637 per ounce. Signs of weakness in the U.S. labor market have strengthened expectations that the Federal Reserve will implement its first rate cut of the year this week. On Sunday, former President Trump indicated he expects the Fed to implement "significant rate cuts."

Gold prices rose on Friday, approaching record highs set earlier last week, as signs of U.S. labor market weakness reinforced expectations for the Fed's first rate cut of the year this week. The weekly chart shows four consecutive weeks of gains, with a 1.56% increase last week. December delivery U.S. gold futures closed 0.3% higher at $3,686.40. Year-to-date, gold prices have surged 39%.

Market focus regarding Fed rate cuts has shifted from whether cuts will occur to how many cuts will happen by year-end and their magnitude. Industry experts believe the Fed will likely implement consecutive 25 basis point cuts at both September and October meetings.

**Gold Technical Analysis:**

Gold demonstrated exceptionally strong performance last week, setting new all-time highs at $3,674.36. Despite persistent inflation, gold has shown no meaningful correction as markets grow increasingly confident that the Fed will inevitably cut rates this week regardless of circumstances. The current focus centers on the magnitude of rate reductions.

From a technical perspective, gold shows no clear topping signals, such as shooting star formations at highs or large bearish candles, suggesting gold is far from peaking.

In the short term, gold is consolidating at high levels on the 1-hour chart. The major directional move appears to depend on news flow or this week's Fed rate decision. If rates are cut, the question remains whether gold will experience a "sell the news" reaction.

Currently, gold is trading within a large range on the 1-hour timeframe. For this week, expect continued range-bound trading with support near 3620 and resistance around 3660. Until the Fed rate decision, range trading strategies are recommended.

**Overall Gold Trading Strategy:** Focus on buying dips for long positions with selling rallies as secondary strategy. Key resistance levels: 3655-3665, key support levels: 3620-3610.

**Crude Oil Market Trend Analysis:**

On Monday (Beijing time September 15th), U.S. crude oil traded near $62.68 per barrel. Friday's price gains from Ukrainian drone attacks that temporarily halted loading at Russia's largest western port were limited by concerns over U.S. demand.

On Sunday, Trump urged Europe to impose sanctions on Russia, stating willingness to implement Russian sanctions while Europe must act commensurately with the U.S.

The oil market faces a dual dynamic of "increasing supply versus demand concerns." OPEC+ production increases and Saudi Arabia's market share grab have deepened oversupply expectations. Rising U.S. inventories and weak consumption data provide little demand-side support. While potential Fed rate cuts may benefit oil prices long-term, short-term pressure remains, especially as market confidence turns cautious.

**Crude Oil Technical Analysis:**

From the daily chart perspective, after consecutive bearish candles, oil has formed a narrow range bottom with prices repeatedly crossing moving averages, indicating medium-term consolidation.

Last Monday's brief break below the range low hasn't developed into a sustained downward trend. Medium-term outlook suggests continued weak consolidation.

Short-term (1H) upward movement has ended, with prices reversing lower back below 62. Moving averages show bearish alignment with downward momentum. MACD below zero axis shows expanding bearish divergence with strong downside momentum.

Morning session continues the main downward trend with prices making new lows. Expect continued decline with limited downside space.

**Overall Crude Oil Trading Strategy:** Focus on selling rallies with buying dips as secondary approach. Key resistance: 64.0-65.0, key support: 61.5-60.5.