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February 23 - Gold and silver prices rose in early Asian trading, driven by risk aversion. President Trump announced on Saturday that he would raise a global tariff to 15% to replace several tariffs ruled illegal by the Supreme Court. An ANZ research report noted that Trumps latest move has reignited trade tensions, potentially stimulating safe-haven buying and supporting gold and silver prices.Sources say India has postponed its plans to travel to the US this week to negotiate a trade agreement due to uncertainty surrounding US tariffs.1. Monday: ① Data: 17:00 Germany February IFO Business Climate Index; 23:00 US December Factory Orders MoM; 23:30 US February Dallas Fed Business Activity Index. ② Events: Iran finalizes draft agreement with the US; 21:00 Fed Governor Waller speaks. ③ Holiday: Japanese stock market and mainland China market closed; northbound and southbound trading closed. 2. Tuesday: ① Data: 09:00 China Loan Prime Rate; 19:00 UK February CBI Retail Sales Balance; 22:00 US December FHFA House Price Index MoM; 22:00 US December S&P/CS 20-City Composite Home Price Index YoY (Unadjusted); 23:00 US December Wholesale Sales MoM; 23:00 US February Conference Board Consumer Confidence Index; 23:00 US February Richmond Fed Manufacturing Index. ② Events: Domestic refined oil price adjustment; US President Trump delivers State of the Union address; 01:30 ECB President Lagarde speaks; 13:00 New 15% global tariffs from the US take effect; 22:10 Fed Governor Waller speaks; 22:35 Fed Governor Lisa Cook speaks on AI. 3. Wednesday: ① Data: 05:30 US API crude oil inventories for the week ending February 20; 08:30 Australia January unadjusted CPI year-on-year rate; 15:00 Germany March GfK consumer confidence index, Germany Q4 unadjusted GDP year-on-year final reading; 17:00 Switzerland February ZEW investor confidence index; 18:00 Eurozone January CPI data; 23:30 US EIA crude oil inventory data for the week ending February 20. ② Events: 00:00 Apple Inc. 2026 Annual Shareholder Meeting; 04:15 Federal Reserves Barkin and Collins jointly attend a panel discussion; 09:20 300 billion yuan of MLF and 400 billion yuan of 14-day reverse repos mature; 16:40 RBA Governor Bullock participates in a fireside chat. 4. Thursday: ① Data: 18:00 Eurozone February Industrial Sentiment Index and Economic Sentiment Index; 21:30 Canadas Q4 Current Account; 21:30 US Initial Jobless Claims for the week ending February 21; 23:30 US EIA Natural Gas Storage for the week ending February 20. ② Events: 05:00 Nvidia releases earnings report after US market close; 06:00 Nvidia earnings call. Baidu releases earnings report before US market open (pending); 20:30 Baidu earnings call. 5. Friday: ① Data: 08:01 UK February GfK Consumer Confidence Index; 15:45 France February CPI (preliminary), Q4 GDP (final); 16:00 Switzerland February KOF Leading Economic Indicator; 16:55 Germany February Seasonally Adjusted Unemployment Change, Unemployment Rate; 21:00 Germany February CPI (preliminary); 21:30 Canada December GDP (monthly); 21:30 US January PPI (yearly); 22:45 US February Chicago PMI; 23:00 US December Construction Spending (monthly). ② Event: 15:00 MSCI China Index February adjustment takes effect. ③ Holiday: Taiwan stock market closed. 6. Saturday: ① Data: 02:00 US Total Oil Rig Count for the Week Ending February 27. ② Event: Berkshire Hathaway Earnings Report. 7. Sunday: ① Event: OPEC+ Meeting.February 23 – The 9th Congress of the Workers Party of Korea continued on February 22. The meeting discussed and revised the Workers Party Constitution and elected members of the Central Leadership. The Congress expressed its full support for and endorsement of the proposal to re-elect Kim Jong Un to the highest position in the Workers Party of Korea, and elected him as General Secretary of the Workers Party of Korea. The meeting also elected members and alternate members of the Central Committee of the Workers Party of Korea. Kim Jong Un, Pak Thae Song, Jo Yong Won, Ri Il Hwan, and 139 others were elected as members of the Central Committee of the Workers Party of Korea.February 23 - Analysts say that as skepticism surrounding artificial intelligence grows, Wall Street is increasingly worried that the chip giants earnings this week will drag down its stock price. Nvidias stock has been trading sideways for months, rising only 1.7% since the beginning of the fourth quarter of last year, slightly below the S&P 500s 3.3% gain over the same period. Nvidias recent lackluster performance is largely due to increased investor concerns about spending hundreds of billions of dollars on AI development, leading to capital outflows from large-cap tech stocks. However, the stock market also faces numerous external risks, including geopolitical instability and reduced expectations of interest rate cuts. All of this puts Nvidia in a delicate position when it releases its fourth-quarter and fiscal year results on Wednesday. Investors expect its results to far exceed Wall Street expectations and raise forecasts for the coming quarters. But the company may have little to do or say to drive a meaningful rise in its stock price. Nvidias stock price has fallen after its last two earnings releases.

Gold trading strategy on October 5: The Fed's reduction is imminent, and the bullish rally will be tested

Oct 26, 2021 10:58

On Tuesday (October 5), spot gold fell sharply, and the technical situation of gold was too much. However, under the background of the Fed's shrinking, the short-term trend is difficult to judge. Investors are advised to continue to wait and see.


Daily level: The price of gold has risen for the previous three consecutive times and has crossed the important resistance of the downward trend line. However, the sharp decline during the Asian session has clouded the further rise of gold prices.

From a technical point of view, MACD Golden Cross and RSI are operating around 50, which also shows that the overall pattern is too large. However, under the background of the upcoming reduction of QE by the Federal Reserve in November, the space above gold may be limited.

The short-term gold price trend is mixed, and the direction is not very clear. It is recommended that investors continue to wait and see.

The initial resistance above focuses on the 38.2% retracement at 1764.27, and further attention is paid to the 50% retracement at 1777.59 and the 50-day moving average at 1772.97.

The initial support below focuses on the 10-day moving average of 1751.68, and further attention to the low of 1738.12 on September 23 and the low of 1721.76 on September 29.

(Spot gold daily chart)

Resistance levels: 1764.27; 177.59; 1792.97
Support levels: 1751.68; 1738.12; 1721.76

Short-term operation advice: wait and see first

GMT+8 14:01, spot gold was quoted at US$1757.59 per ounce.