Gold Market Update On Tuesday, May 13th, U.S. CPI data for April showed that surging energy prices pushed overall inflation to a three-year high, increasing expectations for a Federal Reserve rate hike within the year. Concurrently, hopes for a peace agreement diminished as the U.S. and Iran exchanged renewed tough rhetoric. The benchmark 10-year U.S. Treasury yield closed at 4.457%, while the more policy-sensitive 2-year yield settled at 4.002%. Spot gold plunged over 2% at one point before a V-shaped recovery during the U.S. session pared losses, ultimately closing down 0.41% at $4715.33 per ounce. Spot silver rose for a sixth consecutive session, closing up 0.54% at $86.58 per ounce. Rebounding demand and supply risks propelled LME copper above $14,000, nearing a record high. International oil prices extended gains as market concerns over a prolonged Iran conflict intensified. WTI crude briefly approached $103 before settling up 3.76% at $102.32 per barrel. Brent crude closed up 2.71% at $105.3 per barrel.

Latest Gold Price Action The gold market opened at $4735.4 per ounce yesterday, initially rallying strongly to a daily high of $4773.8. It then reversed sharply, hitting a daily low of $4638.2 before a strong late-session rebound. The session closed at $4714.5, forming a daily candlestick resembling a hammer with a longer lower shadow. This pattern suggests gold remains under pressure within its consolidation range. In summary, gold awaits a breakout from its current range, with consolidation likely to persist today. Trading strategy should consider selling high and buying low. Key resistance levels are $4767-4800, with support at $4698-4665.

Latest Crude Oil Price Action The U.S. crude oil market opened at $98.62 per barrel yesterday, dipped slightly to $98.17, then staged a volatile rally to a daily high of $102.93. After some consolidation, it closed at $102.2, forming a large bullish candlestick with a slightly long upper shadow, indicating a high probability of further gains. In summary, crude oil is trading within a wide range but is currently testing the upside. Today's strategy should prioritize buying on dips, with selling high as a secondary approach. Key resistance levels are $103.5-109.5, with support at $100.2-98.5.

Latest Nasdaq Index Price Action The Nasdaq index opened at 29305.56 yesterday, edged up to 29352.1, then sold off sharply to a daily low of 28627.42. A late-session rally led to a close at 29030.25, forming a medium bearish candlestick with a very long lower shadow. This pattern suggests the index is in a corrective phase after encountering resistance. In summary, the Nasdaq has broken down from highs but the rebound from lows was strong. While further adjustment is expected, the overall uptrend remains intact. Today's strategy should focus on buying on dips, with selling high as a secondary tactic. Key resistance levels are 29180-29380, with support at 28728-28600.