Gold Market Update
On Thursday, June 12th, former President Trump halted plans for a new U.S. military strike against Iran at the last minute and claimed a U.S.-Iran agreement could be signed in Europe this weekend. The benchmark 10-year U.S. Treasury yield settled at 4.472%, while the policy-sensitive 2-year yield closed at 4.072%. Spot gold initially fell to an intraday low of $4,024 after opening, then moved sideways before a sharp rally during the U.S. session pushed it back above $4,200. It ultimately closed up 3.46% at $4,211.39 per ounce. Spot silver finished up 6.24% at $67.33 per ounce. Crude oil trended lower throughout the day. WTI crude lost the $90 per barrel level and plummeted sharply during the U.S. session, closing down 5.96% at $87.17 per barrel. Brent crude closed down 5.55% at $88.54 per barrel.
Latest Gold Price Action Analysis
The gold market opened at $4,080.7 per ounce yesterday. After an initial decline to a daily low of $4,022.2, prices staged a rapid recovery in late trading. The U.S. session saw another strong surge driven by fundamental factors, pushing gold to a daily high of $4,220.7 before consolidation. The session finally settled at $4,212.4, forming a daily candlestick with a long lower shadow. This closing pattern suggests gold is testing resistance to the upside. In summary, following a break to new lows, a strong bullish candlestick emerged, but the overall sideways-to-bearish structure remains unchanged. For today's trading, a strategy of selling on rallies and buying on dips is considered, with resistance monitored at $4,256-$4,350 and support watched at $4,128-$4,050.
Latest Crude Oil Price Action Analysis
The U.S. crude oil market opened at $92.74 per barrel yesterday. After an initial rally to a daily high of $94.37, prices reversed sharply lower to a daily low of $86.47 before consolidating. The session closed at $87.21, forming a daily bearish candlestick with a slightly longer upper shadow. This closing pattern indicates crude oil is trading in a sideways-to-bearish trend. In summary, the strong bearish candlestick pressure increases the likelihood of further downside. For today's trading, a strategy prioritizing selling on rebounds, with buying dips as a secondary approach, is considered. Resistance is watched at $87.8-$88.9, with support monitored at $85.0-$83.0.
Latest Nasdaq Index Price Action Analysis
The Nasdaq market opened at 28,412.78 points yesterday. After an initial dip to 28,220.84, it experienced strong, volatile upward momentum, reaching a daily high of 29,501.8 before consolidation. The session closed at 29,387.06, forming a daily bullish candlestick with a slightly longer upper shadow. This closing pattern, where the bullish candle engulfs the prior bearish one, suggests a strategy of buying on dips for today's session. In summary, the index is within a high-level consolidation range, and whether it can sustain an upward breakout is key. For today's trading, a strategy prioritizing entering long positions on pullbacks, with selling rallies as a secondary approach, is considered. Resistance is watched at 29,820-30,000 points, with support monitored at 29,130-28,950 points.