Gold Market Update – On March 2nd, the benchmark 10-year U.S. Treasury yield settled at 3.9510%. The 2-year Treasury yield, sensitive to Federal Reserve policy rates, fell to its lowest level since 2022, closing at 3.3850%. Amid ongoing uncertainty surrounding Trump-era tariffs and escalating U.S.-Iran tensions, precious metals prices found support. Spot gold ultimately closed up 1.83% at $5,279.95 per ounce. Following the U.S. urging citizens to leave Israel, spot silver surged sharply, breaking above the $93 mark to close 6.19% higher at $93.75 per ounce. International crude oil prices rose sharply due to U.S.-Iran tensions, hitting a six-month high before pulling back. WTI crude finally settled up 2.81% at $67.25 per barrel, while Brent crude closed 3.35% higher at $73.27 per barrel.
Latest Gold Price Movement – Last week, the gold market opened at $5,107.4 per ounce, then surged directly to $5,252 before experiencing a rapid pullback on Tuesday. The weekly low touched $5,092.7, after which prices consolidated strongly and rose. By Friday's close, driven by news of strikes against Iran, gold surged sharply, reaching a weekly high of $5,281.2 before settling at $5,280.2. The week concluded with a solid bullish candlestick featuring a slightly longer lower shadow. This pattern suggests continued technical buying interest for the current week. Overall, the summary is: Gold remains in an uptrend. For today's trading, consider prioritizing long positions on pullbacks. Resistance is observed near $5,500-$5,600, with support around $5,300-$5,200.
Latest Crude Oil Price Movement – The crude oil market opened lower last week at $65.68 per barrel. It initially rallied to $67.41, then fluctuated lower, hitting a weekly low of $63.68 before staging a strong rebound. By Friday, boosted by safe-haven demand, it reached a weekly high of $67.93, eventually settling at $67.34. The week ended with a strongly bullish candlestick marked by a very long lower shadow. This formation indicates ongoing potential for further gains. In summary: Crude oil opened with a gap-up today, breaking above its previous narrow range, suggesting a high probability of continued upward movement. For today's strategy, focus on establishing long positions on dips, with short positions as a secondary tactic. Resistance is seen near $75.0-$76.0, while support lies around $70.0-$69.0.
Latest Nasdaq Index Movement – The Nasdaq market opened in early February at 25,402.87 points. It first rallied to 25,937.21 before undergoing a significant correction, reaching a monthly low of 24,114.97. Subsequently, finding support near the 10-day moving average on the monthly chart, it rebounded strongly, finally closing the month at 24,915.88. The month concluded with a spinning top candlestick pattern featuring a longer lower shadow. This pattern suggests the index is under pressure and consolidating. Overall summary: The Nasdaq opened lower today and is hovering near the lower end of its recent trading range. The key question is whether it will break downward further. For current trading, consider prioritizing short positions on bounces, with long positions as a secondary approach. Resistance is anticipated near 24,909-25,050, with support around 24,600-24,350.