ADP data boosts gold prices to near four week high
At present, the fundamentals of gold are mainly bullish. Today, investors are paying attention to the 4-hour support area 2646 below gold. After the pullback stabilizes, they will buy long gold.
① Trump's latest policy further increased the demand for gold as a safe haven.
② The ADP National Employment Report data released on Wednesday fell short of expectations, providing support for gold.
③ The minutes of the Federal Reserve's December meeting showed that the future direction of monetary policy is full of uncertainty, which has increased the safe haven demand for gold.
At present, the fundamentals of crude oil are bullish and bearish, and short-term investors can focus on the 4-hour pressure zone above crude oil. After the decline ends, they can continue to buy long by paying attention to the daily support zone below.
① EIA data shows an overall increase in inventory, which puts pressure on oil prices.
② The strength of the US dollar has also put pressure on oil prices.
③ OPEC's production declined in December, which to some extent supported oil prices.
④ The report from the Russian Ministry of Energy indicates that Russia's current oil production is below the country's target, which also provides some support for crude oil.
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