In the morning session, gold is favored as a hedge against unexpected risks.

Gold:

So far this year,FXCM official website trading platform download due to multiple factors such as the Federal Reserve's interest rate cut expectations and geopolitical tensions, international gold prices have continued to hit new highs. A recent survey by the World Gold Council (WGC) shows that around 20 central banks are expected to increase their gold reserves over the next year, marking the highest level since the council began its gold reserve survey in 2018.

On Eastern Time Tuesday (July 23), U.S. Vice President Kamala Harris held her first campaign rally speech in Milwaukee, Wisconsin. Harris came out "full force" in her 17-minute speech. Despite Harris's fierce show, Trump was undaunted. Trump stated on the same day that he is confident of defeating Harris.

Technical Analysis: Yesterday (July 24), gold prices surged and then fell back, closing with a long upper shadow bearish candlestick. As of now, the gold price is still oscillating between the 13-day and 55-day moving averages, indicating an unclear direction. In terms of operations, maintain a rhythm of selling high and buying low, and take profits when they are secure.

Oil:

The European Union's Copernicus Climate Change Service (C3S) stated that the global average surface temperature reached 17.09°C on July 21, breaking the high-temperature record of 17.08°C set on July 6 last year. The average temperature of 17.09°C marks the highest recorded since 1940. However, what is truly concerning is the abnormal temperatures since July 2023.

The U.S. Treasury's two-year bond auction at the beginning of the week saw a record strong demand, with direct and indirect bidders being allocated 91%, the highest since 2003, while primary dealers were allocated only 9%, the lowest on record. The strong performance of short-term U.S. bonds indicates market confidence in the onset of a new easing cycle.

Technical Analysis: Oil prices closed with a doji candlestick yesterday, ending a four-day streak of bearish candlesticks. Although the bulls showed resilience yesterday, it does not change the outlook. The market is expected to continue to decline, and new lows are anticipated.

[Important Notice: The above content and viewpoints are provided by WisdomRise Research for reference only and do not constitute any investment advice. Investors should act accordingly at their own risk.]

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.