Overseas, spot gold experienced a slight decline, reaching a daily high of $2,666.64 and a low of $2,643.05, eventually closing at $2,648.95. Today, in the Asian market, gold is slightly up, currently hovering around $2,653.

Another historical high!

Overseas, the three major U.S. stock indexes all rose, with the Dow Jones Industrial Average, the Nasdaq Composite, and the S&P 500 Index rising by 0.47%, 0.87%, and 0.77% respectively. Both the Dow Jones Industrial Average and the S&P 500 Index hit historical highs.

Macro-wise, two Federal Reserve officials once again made surprising remarks.

Following last week's hints from Atlanta Fed President Bostic and Dallas Fed President Logan about "pausing rate cuts in November," the two officials who started the week this time went a step further, hinting that the entire rate cut cycle's "pace" and "force" might not meet expectations.

Federal Reserve Governor Waller stated that if inflation is below 2%, or if the labor market deteriorates, the Fed could cut rates earlier. If inflation rises unexpectedly, the Fed might pause rate cuts. Minneapolis Fed President Kashkari, on the other hand, said that monetary policy is still in a tightening state, and the degree of its restrictiveness is not yet clear. The job market remains strong, and further "moderate" rate cuts seem appropriate.

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This is the start of the week, and if more officials express such views, the market will reprice the previous "strong dollar" that was not priced in.

Since there is still some time until the Fed's November meeting, the current period should be a free expression phase for Fed officials, with the purpose of allowing the market to digest various possibilities. The Fed's timing is very good, as the market lacks speculative themes, which prevents excessive market reactions. However, the market remains relatively calm because only a few people feel that changes are happening. When most people realize it, the changes have already occurred.

Currently, according to CME's "FedWatch," the probability of the Fed cutting rates by 25 basis points in November is 95.6%, and the probability of keeping rates unchanged is 4.4%; the probability of a cumulative rate cut of 50 basis points by December is 84.1%. This means that futures traders are betting that the Fed will cut rates by 25 basis points at the November and December meetings, respectively.This week, all eyes will be on earnings reports, with traders betting on a significant stock market surge following their release. Citigroup, Bank of America, Goldman Sachs, and Johnson & Johnson will announce their latest performance results on Tuesday. Morgan Stanley and United Airlines will report their earnings on Wednesday. TSMC, Netflix, and Procter & Gamble are also scheduled to release their financial statements this week.

Last Friday, both JPMorgan Chase and Wells Fargo reported earnings that exceeded expectations, kicking off the third-quarter earnings season for U.S. stocks with a bang. The earnings reports from these banks indicated a recovery in the banking industry's profits, which helped propel the broader market to historical highs over the weekend. The S&P 500 index closed above 5,800 points for the first time, while the blue-chip Dow Jones Industrial Average also reached an all-time high.

Analysts say that the earnings season will be in full swing this week, as usual, with results expected to beat expectations. However, the key will be whether the guidance from these companies is strong enough to raise future performance estimates.

It is also worth mentioning that oil prices closed down by more than 2%, with a drop of over 5% at one point during trading.

Overseas, the price of WTI November crude oil futures fell by $1.73, a decrease of 2.29%, closing at $73.83 per barrel, and is currently near $71.85 per barrel; the price of Brent December crude oil futures fell by $1.58, a decrease of 2%, closing at $77.46 per barrel, and is currently near $75.11 per barrel.

In terms of news, OPEC lowered its global oil demand growth forecast for the third consecutive month in its monthly report. OPEC expects oil demand to grow by 1.9 million barrels per day in 2024, lower than the previously predicted 2 million barrels per day. The organization forecasts oil demand to grow by 1.6 million barrels per day in 2025, lower than the previously predicted 1.7 million barrels per day.

Additionally, after the close of crude oil trading, according to foreign media reports, Israeli Prime Minister Netanyahu informed the United States that Israel does not plan to strike Iran's oil and nuclear targets, but will instead target Iranian military forces.JinTouWang: Gold Price Trend Analysis for October 15th

From a technical perspective, the daily chart has not experienced a breakdown, but the short-term strong trend has not materialized, and the market remains in a state of consolidation. Technically, the daily chart has not broken below the short-term moving averages, indicating that the market still has some upward momentum.

Looking at the support levels, the lower support is still around 2640, while the resistance is seen around 2665.