On January 27, the gold market experienced some volatility, with spot gold slightly declining to around $2768 per ounce during early trading sessions in AsiaJust before, on November 24, gold prices had risen by 0.6%, reaching a peak of $2785.86 during trading, very close to the historical high of $2789.95. Closing at $2771.51 per ounce, this marked the fourth consecutive weekly gain for gold, up by 2.5%. The gains can be attributed to uncertainties surrounding trade policies in the United States, which undermined the dollar and subsequently propelled investors towards safe-haven assets like gold.

In the shadow of these unfolding events, the market anticipates that the Federal Reserve will maintain interest rates during the conclusion of its two-day meeting this WednesdayInvestors are particularly keen on any indications hinting at potential rate cuts in March, provided inflation continues to ease towards the target of 2%. Recent data revealed that while inflation pressures seem to be rising, US business activity in January fell to its lowest level in nine months, whereas December saw existing home sales hit their highest point in ten monthsConsumer confidence in January weakened for the first time in six months, fueled by concerns over the labor market and potential increases in product prices if the new administration continues with its plans to impose tariffs on imports.

Last Friday, US Treasury yields also saw a modest decline; the yield on the 10-year US Treasury bond fell by 0.39%, closing at 4.625%, influenced largely by lackluster data on consumer confidence and business activity coming from the world's largest economyStandard & Poor’s reported that the US Composite Purchasing Managers' Index, which tracks both manufacturing and services, fell to 52.4 this month, the lowest since April, down from 55.4 in December

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The manufacturing Purchasing Managers' Index initially increased from December’s 49.4 to 50.1 at the beginning of January, marking the highest level since JuneHowever, economists had expected the manufacturing PMI to rise to 49.7. The service sector PMI also saw a decline, tumbling from 56.8 last month to 52.8, significantly below economists' forecasts of 56.5.

In the world of gold trading on January 27, the opening price was approximately $2754, followed by a slight dip that found support around $2751 before erasing losses and entering a substantial upward trendThe European trading session maintained this momentum within a minor range, and as the US market opened, gold prices surged, hitting a new daily high of around $2786, nearly touching historical peaksHowever, towards the end of the trading day, gold prices slightly retracted, closing with a modest bullish indicatorAnalyzing the daily charts reveals that the Bollinger Bands are still expanding upwards, with Kline fluctuating near the upper bandsThe moving averages (MA5 and MA10) are diverging upwards, while the MACD histogram shows decreasing momentum as the KDJ indicator signals a golden crossOverall, this suggests a potential for high points followed by retracting movementsToday’s resistance points present opportunities for bearish strategies, anticipating a descending trajectoryOn a shorter timeframe, the Bollinger Bands show a tendency to contract downwards, indicating bearish sentiment.

Concerning operational strategies for gold, it is advisable to consider short positions around $2772 to $2774 with a stop loss set at $6.5, targeting drops to $2760, $2748, and then $2720. Similarly, any tests around $2784 to $2786 should also be approached with bearish positions; again, a $6.5 stop loss should be observed, aiming for $2770 and $2752 as potential targetsConversely, should prices fall to about $2710 to $2712, a long position could be considered with a stop loss set at $6.5, aiming for rebounds towards $2720 and $2736.

Switching gears to silver, prices opened around $30.33 in the previous trading day, showing a rebound during the Asian session, maintaining upward trajectories during European trading

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Once the US markets opened, silver reached a daily high of about $31 before trending downwards, capturing the day with a long upper shadow, indicating selling pressureReviewing the daily charts, it appears the Bollinger Bands remain open upward, with the Kline showing a failure to maintain the peaksThe moving averages are flattening out near the mid-band, with the MACD indicating a gradual increase in momentum while the KDJ crosses bearishLong-term signals suggest a potential drop today, with strategies focusing on selling into rallies.

For silver, operational tactics suggest looking to short sell in the upper range of $30.68 to $30.86, accompanied by a stop loss at $31 and aiming for targets down to $30, $29.52, and ultimately $29. Alternatively, if prices are tested around $31.34 to $31.48, bearish positions can be taken with a stop loss at $31.67, targeting down to $30.72 and $30. Lastly, for bullish approaches, any movements near $29.23 to $29.35 provide possibilities for purchases, with a stop loss at $29 and targets moving upwards to $29.95 and $30.68.

Analyzing oil, the previous trading day had prices opening around $74.3, with a slight dip pushing towards the support level at $74 before recoveringThe European session continued this upward momentum, and US trading sessions contributed to a peak at around $75.2 before experiencing a downtrendThe daily charge shows a small bullish candle as the Bollinger Bands are beginning to constrictThe Kline shows a downward trend, with moving averages indicating downward divergence, while the MACD indicates progressive energy shiftsThe KDJ indicator remains bearishAnalyzing longer timeframes suggests we continue to see a pullback trend, hence holding short strategies remains pertinent for today.

In terms of operational advice for oil, consider shorting at levels around $74.2 to $74.5, ensuring a stop loss at $75.5, with targets set at $73, $71.6, and further to $70. Likewise, selling should be implemented whenever testing levels around $76 to $76.2 with a stop loss at $77.2, aiming for a correction down to $75 and $73.2. For bullish strategies, any drops near the $70 to $70.2 range provide an opening for buyers, adopting a stop loss at $69 with targets extending upwards to $71.3 and $72.8.

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