Spot gold: Oscillating upward, buy on dips

智通财经2026/08/28 02:16

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(1) Analysis reasons: Gold is fluctuating around $4,600, with US Treasury yields and the US dollar weakening recently. Fiscal risks and safe-haven demand continue to provide support. The Federal Reserve's policy still carries hawkish risks, and sticky inflation limits expectations for interest rate cuts, which may lead gold prices to oscillate at high levels. The bullish technical structure remains intact; in the short term, due to technical indicators being oversold, a correction is needed, and it is advisable to wait for stabilization. (2) Key focus: US Treasury yields, US Dollar Index, geopolitical situation, Jackson Hole Symposium (3) Resistance: 4,600; 4,650; 4,700 (4) Support: 4,550; 4,520; 4,500;

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On Tuesday, following Federal Reserve Governor Waller’s call to consider a 50 basis point rate hike at the December meeting, this year’s FOMC rotating voting member Lorie Logan reiterated a hawkish stance, stating, "Given the current economic outlook, I believe at least two more rate hikes of 25 basis points each are needed. The pace of rate hikes this winter may be faster than what we have seen so far this autumn." On Tuesday, the two-year US Treasury yield jumped 19 basis points in a single day, reaching 4.74%.

华尔街见闻•2026/11/10 19:52