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Gold prices have retreated in the short term, currently falling below the resolution low of 3645. The VIP Market Monitoring Tool - Indicator Resonance Point (15-minute) shows that the strongest upward resistance for gold is at 3649.56, the four-hour low and a multi-period Fibonacci retracement level. Strongest downward support is at 3634.50, the lower band of the hourly Bollinger Band. The long-short order ratio shows that 50.78% of funds are short, slightly outnumbering long positions. Furthermore, capital flows show a significant decrease in volume, prompting caution for a continued correction. For more information, see the "VIP Zone - Market Monitoring Tool."Kuwaits Oil Minister: Oil demand is expected to increase after the US interest rate cut, especially from Asia.Germanys DAX30 index opened up 171.94 points, or 0.74%, at 23,518.89 points on Thursday, September 18; Britains FTSE 100 index opened up 18.98 points, or 0.21%, at 9,227.35 points on Thursday, September 18; Frances CAC40 index opened up 31.76 points, or 0.41%, at 7,818.74 points on Thursday, September 18; Europes The STOXX 50 index opened up 34.55 points, or 0.64%, at 5404.25 points on Thursday, September 18; the Spanish IBEX 35 index opened up 92.38 points, or 0.61%, at 15232.38 points on Thursday, September 18; and the Italian FTSE MIB index opened up 292.02 points, or 0.70%, at 42247.00 points on Thursday, September 18.The Central Bank of Jordan cut interest rates by 25 basis points.On September 18th, Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), stated in a statement that the penetration rate of new energy commercial vehicles in commercial vehicles will reach 20% in 2024, a significant increase compared to 2023. In August 2025, the penetration rate of new energy commercial vehicles reached 30%, a 7 percentage point increase from 23% in August of the previous year, showing relatively strong performance. From 2019 to 2021, the penetration rate of new energy commercial vehicles as a whole was around 3%, reaching 9% in 2022, 11% in 2023, and 20% for the entire year of 2024. From January to August 2025, the penetration rate reached a good level of 25%, reflecting the strong growth momentum of new energy commercial vehicles. In August 2025, the penetration rate of new energy commercial vehicles was 30%, a 7 percentage point increase over the same period last year, and a 7 percentage point increase from January to August, which was stronger than the growth of passenger cars.

Gold trading strategy on October 11: Gold prices are expected to continue to fluctuate sideways, but the downside opportunities are slightly greater

Oct 26, 2021 11:01

On Monday (October 11), spot gold fell slightly. The short-term gold price is expected to continue to maintain a sideways trend, and the downside opportunities are greater than the upside. It is recommended that conservatives wait and see, and radicals short rallies.


Daily level: The price of gold rose and fell last Friday, showing that the short-term strength is still very strong, and the long-term short-term is unlikely to attack again.

The price of gold is still maintaining a sideways trend. This trend is expected to continue in the day. On Monday, the United States will not release economic data due to a holiday, which also determines that the trend of gold will not be too volatile.

Investors need to focus on the downside risk of gold prices. The initial support below is at the 23.6% retracement level of 1743.90. A fall below this level will open the door to the psychological barrier of 1721.76 and 1700.

On the upside, initial resistance focuses on the October 4 high of 1770.44, and further attention to the October 8 high of 1781.41 and the July 23 low of 1790.26.

(Spot gold daily chart)

Resistance levels: 1770.44; 1781.41; 1790.26
Support levels: 1743.90; 1721.76; 1700.00

Short-term operational recommendations: conservatives take the wait and see, and radicals short rallies.

GMT+8 13:54, spot gold was quoted at $1755.94 per ounce.