张尧浠:贸易待敲定及降息预落地 金价仍有再走低风险

Core Viewpoint - International gold prices have declined due to reduced risk appetite stemming from trade tensions and expectations of a ceasefire agreement, leading to increased short-selling pressure and a bearish outlook for the near term [1][5]. Group 1: Market Performance - On October 27, gold opened at $4,078.89 per ounce, reached a high of $4,108.76, and then fell to a low of $3,971.36 before closing at $3,981.20, marking a daily decline of $127.43 or 3.1% from the previous close of $4,108.63 [1]. - The daily trading range was $137.4, indicating significant volatility during the session [1]. Group 2: Technical Analysis - The gold price is currently facing resistance at trendline levels and has shown signs of a potential downward adjustment, with expectations of reaching around $3,700 in the coming month [5]. - Weekly analysis suggests that gold may test support at the 10-week moving average near $3,850 [7]. Group 3: Economic Indicators - Upcoming economic data to watch includes the FHFA House Price Index, S&P/CS 20-City Composite Home Price Index, Consumer Confidence Index, and Richmond Fed Manufacturing Index, which are generally expected to be supportive for gold prices [3]. - The market sentiment is influenced by the anticipated meeting between U.S. President Trump and Chinese President Xi, which may further shape trade agreement expectations [5].