Core Viewpoint - Gold prices are experiencing a decline, currently trading around $4429.99 per ounce, despite attempts to regain upward momentum supported by the 50-day moving average [1] Group 1: Market Sentiment and Economic Indicators - Global risk sentiment is showing signs of fatigue due to rising geopolitical tensions, which may provide support for safe-haven assets like gold [1] - Mixed macroeconomic data from the U.S. has not significantly impacted market expectations for two more rate cuts by the Federal Reserve this year [1] - Traders are likely waiting for the U.S. non-farm payroll report to gain more insights into the Fed's rate cut path, indicating a cautious approach before making aggressive bearish bets on gold [1] Group 2: Technical Analysis - The bullish momentum for gold has weakened, forming a bearish engulfing pattern, but it remains above short-term moving averages and within a two-month recovery trend [2] - The support level at 4425, formed by the 100-hour simple moving average and the 38.2% Fibonacci retracement, may provide some support for gold prices [2] - The MACD is below the signal line and zero, indicating enhanced bearish momentum, while the RSI is around 40, suggesting limited upward space [2]

Group 1 - Silver futures are currently trading above 15,493, with an opening price of 15,447 and a current price of 15,523, reflecting a 3.45% increase. The highest price reached was 15,666, while the lowest was 15,224, indicating a short-term oscillating trend in silver futures [1][3] - The main silver futures price has increased over 3%, reaching a new high of 15,666. The MACD indicator is in the positive zone, suggesting continued upward momentum. The silver premium remains at 340 yuan per kilogram, with bullish sentiment still high [3] Group 2 - The annual inflation rate in the U.S. reached 3% in September, the highest level following aggressive tariff increases by President Trump. Analysts expect inflation to remain around 3%, with data to be released later [2] - Federal Reserve Chairman Jerome Powell indicated that concerns over tariffs causing inflation in the U.S. are minimal, suggesting that the impact will peak in early 2026 and may only contribute a few tenths of a percentage point to inflation [2]